Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Decreased by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,304 shares of the information services provider’s stock after selling 590 shares during the quarter. Alphabet makes up approximately 0.6% of Ritholtz Wealth Management’s holdings, making the stock its 24th biggest holding. Ritholtz Wealth Management’s holdings in Alphabet were worth $20,450,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Code Waechter LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at approximately $577,000. Chickasaw Capital Management LLC boosted its holdings in Alphabet by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 23,558 shares of the information services provider’s stock worth $3,907,000 after purchasing an additional 715 shares during the period. Atwater Malick LLC increased its stake in Alphabet by 0.8% during the third quarter. Atwater Malick LLC now owns 87,434 shares of the information services provider’s stock valued at $14,501,000 after purchasing an additional 651 shares during the last quarter. Perfromance Wealth Partners LLC raised its holdings in shares of Alphabet by 20.2% during the third quarter. Perfromance Wealth Partners LLC now owns 40,457 shares of the information services provider’s stock worth $6,710,000 after purchasing an additional 6,794 shares during the period. Finally, Octavia Wealth Advisors LLC lifted its position in shares of Alphabet by 0.5% in the 3rd quarter. Octavia Wealth Advisors LLC now owns 111,324 shares of the information services provider’s stock worth $18,463,000 after buying an additional 554 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of GOOGL opened at $163.42 on Monday. The business’s 50-day moving average price is $161.77 and its 200 day moving average price is $168.25. 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 stock has a market capitalization of $2.02 trillion, a P/E ratio of 25.06, a P/E/G 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.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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 for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm posted $1.44 earnings per share. Analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’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 sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GOOGL shares. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, September 25th. Piper Sandler reiterated an “overweight” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. TD Securities upped their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Company 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.