Alphabet Inc. (NASDAQ:GOOGL) Position Cut by LVW Advisors LLC

LVW Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 29,913 shares of the information services provider’s stock after selling 966 shares during the quarter. Alphabet makes up about 0.6% of LVW Advisors LLC’s investment portfolio, making the stock its 29th largest holding. LVW Advisors LLC’s holdings in Alphabet were worth $4,961,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the first quarter valued at about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter valued at about $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Citigroup lifted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI lowered their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group lowered their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Trading Up 0.3 %

Shares of NASDAQ GOOGL opened at $163.42 on Friday. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.21 and a beta of 1.04. The business has a 50 day simple moving average of $161.77 and a 200 day simple moving average of $168.16. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 business posted $1.44 EPS. On average, research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’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 of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. 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 firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by corporate insiders.

About Alphabet

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.