Wealth Effects LLC Sells 1,644 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wealth Effects LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 23.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,446 shares of the information services provider’s stock after selling 1,644 shares during the period. Wealth Effects LLC’s holdings in Alphabet were worth $911,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GOOG. Financial Symmetry Inc lifted its position in shares of Alphabet by 34.5% during the third quarter. Financial Symmetry Inc now owns 1,834 shares of the information services provider’s stock valued at $307,000 after purchasing an additional 470 shares in the last quarter. Benin Management CORP increased its stake in Alphabet by 19.7% in the 3rd quarter. Benin Management CORP now owns 28,123 shares of the information services provider’s stock valued at $4,702,000 after buying an additional 4,627 shares during the last quarter. Trilogy Capital Inc. lifted its position in shares of Alphabet by 3.6% during the 3rd quarter. Trilogy Capital Inc. now owns 4,284 shares of the information services provider’s stock worth $716,000 after buying an additional 150 shares in the last quarter. Sterling Investment Management LLC boosted its stake in shares of Alphabet by 63.6% in the 3rd quarter. Sterling Investment Management LLC now owns 25,864 shares of the information services provider’s stock worth $4,324,000 after buying an additional 10,059 shares during the last quarter. Finally, Koss Olinger Consulting LLC increased its position in shares of Alphabet by 1.6% during the third quarter. Koss Olinger Consulting LLC now owns 25,610 shares of the information services provider’s stock valued at $4,282,000 after acquiring an additional 402 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. UBS Group lowered their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer decreased their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Stock Performance

Alphabet stock opened at $165.80 on Tuesday. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. 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 market capitalization of $2.05 trillion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s 50 day simple moving average is $163.21 and its 200 day simple moving average is $169.86.

Alphabet (NASDAQ:GOOG) last released its quarterly 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 firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. 12.99% of the stock is currently owned by insiders.

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.