USA Financial Formulas Sells 1,774 Shares of Alphabet Inc. (NASDAQ:GOOGL)

USA Financial Formulas decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,713 shares of the information services provider’s stock after selling 1,774 shares during the quarter. Alphabet accounts for approximately 0.2% of USA Financial Formulas’ investment portfolio, making the stock its 29th largest position. USA Financial Formulas’ holdings in Alphabet were worth $1,445,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its position in shares of Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors lifted its stake in Alphabet by 14.4% during the first 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 during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors increased its stake in shares of Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after purchasing an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Mizuho lifted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Pivotal Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Tuesday. Argus boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley dropped their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $201.76.

Get Our Latest Stock Report on GOOGL

Alphabet Stock Down 1.4 %

Alphabet stock opened at $162.93 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.99, a PEG ratio of 1.21 and a beta of 1.04. The firm’s fifty day moving average is $161.77 and its 200 day moving average is $168.01. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the business earned $1.44 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.