Highland Capital Management LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Highland Capital Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,786 shares of the information services provider’s stock after selling 3,675 shares during the period. Alphabet comprises approximately 1.5% of Highland Capital Management LLC’s portfolio, making the stock its 13th largest position. Highland Capital Management LLC’s holdings in Alphabet were worth $26,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its holdings in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter valued at $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet during the second quarter worth about $44,000. Finally, Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Pivotal Research initiated coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. 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 through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $166.99 on Friday. The company has a market cap of $2.06 trillion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The business has a fifty day moving average of $163.35 and a two-hundred day moving average of $170.04. 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 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.