Alphabet Inc. (NASDAQ:GOOGL) Holdings Lowered by Talbot Financial LLC

Talbot Financial LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,099 shares of the information services provider’s stock after selling 228 shares during the period. Talbot Financial LLC’s holdings in Alphabet were worth $2,504,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Capital Research Global Investors raised its holdings in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Wulff Hansen & CO. lifted its stake in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after buying an additional 4,170,229 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $165.16 on Thursday. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $161.76 and a 200-day simple moving average of $168.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the previous year, the firm earned $1.44 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Truist Financial increased their price target on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Wedbush reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, September 5th. Finally, The Goldman Sachs Group dropped their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 in the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.