Gruss & Co. LLC Sells 3,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gruss & Co. LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 54.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the information services provider’s stock after selling 3,000 shares during the quarter. Alphabet makes up 3.3% of Gruss & Co. LLC’s portfolio, making the stock its 11th largest position. Gruss & Co. LLC’s holdings in Alphabet were worth $415,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in shares of Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Capital Research Global Investors increased its holdings 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 buying an additional 7,275,757 shares during the last quarter. Wulff Hansen & CO. raised its position in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. PineStone Asset Management Inc. raised its position in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $165.27 on Friday. The company’s 50-day moving average price is $161.95 and its two-hundred day moving average price is $168.51. The firm has a market cap of $2.03 trillion, a P/E ratio of 23.71, a P/E/G ratio of 1.27 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 12 month low of $120.21 and a 12 month high of $191.75.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOGL shares. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Piper Sandler reissued an “overweight” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday, September 30th. Wells Fargo & Company cut their price objective on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Thursday. Finally, DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average 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.