DMC Group LLC Sells 1,247 Shares of Alphabet Inc. (NASDAQ:GOOGL)

DMC Group LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,090 shares of the information services provider’s stock after selling 1,247 shares during the period. Alphabet makes up approximately 1.8% of DMC Group LLC’s investment portfolio, making the stock its 8th largest position. DMC Group LLC’s holdings in Alphabet were worth $2,171,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GOOGL. Norway Savings Bank grew its stake in Alphabet by 5.6% during the first quarter. Norway Savings Bank now owns 31,840 shares of the information services provider’s stock worth $4,806,000 after buying an additional 1,682 shares in the last quarter. New England Research & Management Inc. boosted its stake in shares of Alphabet by 7.3% in the 1st quarter. New England Research & Management Inc. now owns 39,672 shares of the information services provider’s stock valued at $5,988,000 after purchasing an additional 2,711 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in shares of Alphabet by 9.8% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 11,487 shares of the information services provider’s stock valued at $1,779,000 after purchasing an additional 1,029 shares in the last quarter. KRS Capital Management LLC boosted its stake in shares of Alphabet by 2.6% in the 1st quarter. KRS Capital Management LLC now owns 11,640 shares of the information services provider’s stock valued at $1,757,000 after purchasing an additional 300 shares in the last quarter. Finally, Webster Bank N. A. boosted its stake in shares of Alphabet by 1.6% in the 1st quarter. Webster Bank N. A. now owns 143,839 shares of the information services provider’s stock valued at $21,710,000 after purchasing an additional 2,208 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOGL opened at $169.68 on Wednesday. The company has a fifty day simple moving average of $162.00 and a 200 day simple moving average of $168.74. Alphabet Inc. has a 12-month low of $122.68 and a 12-month high of $191.75. 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 company has a market cap of $2.10 trillion, a P/E ratio of 26.02, a PEG ratio of 1.27 and a beta of 1.04.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Loop Capital restated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Wolfe Research started coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on 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 $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on 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 $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by company 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.