Traphagen Investment Advisors LLC Has $2.43 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Traphagen Investment Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,551 shares of the information services provider’s stock after selling 1,269 shares during the period. Traphagen Investment Advisors LLC’s holdings in Alphabet were worth $2,433,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Abich Financial Wealth Management LLC lifted its holdings in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet during the second quarter worth about $37,000. HWG Holdings LP bought a new position in Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter worth about $44,000. Finally, Hoese & Co LLP lifted its holdings in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Finally, Scotiabank began coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $166.82 on Wednesday. The business’s 50 day moving average price is $163.23 and its two-hundred day moving average price is $169.96. The company has a market cap of $2.06 trillion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Insiders Place Their Bets

In other Alphabet 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 transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the 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 transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade 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 accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 over the last 90 days. 12.99% of the stock is currently owned by 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.