Professional Financial Advisors LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

by · The Markets Daily

Professional Financial Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,418 shares of the information services provider’s stock after selling 262 shares during the quarter. Professional Financial Advisors LLC’s holdings in Alphabet were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Alphabet by 94,153.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 200,558,295 shares of the information services provider’s stock valued at $24,261,537,000 after purchasing an additional 200,345,509 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after acquiring an additional 129,835,437 shares in the last quarter. Geode Capital Management LLC raised its holdings in Alphabet by 0.9% in the second quarter. Geode Capital Management LLC now owns 98,217,816 shares of the information services provider’s stock valued at $11,846,230,000 after acquiring an additional 882,830 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 20.6% in the second quarter. JPMorgan Chase & Co. now owns 86,237,704 shares of the information services provider’s stock valued at $10,432,175,000 after acquiring an additional 14,746,989 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after acquiring an additional 19,612,974 shares in the last quarter. 27.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOG. Oppenheimer reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, October 25th. Raymond James began coverage on shares of Alphabet in a report on Wednesday, December 20th. They issued an “outperform” rating and a $150.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $131.93.

Check Out Our Latest Stock Report on GOOG

Alphabet Stock Up 0.9 %

Alphabet stock opened at $143.80 on Thursday. The company has a 50-day simple moving average of $136.97 and a 200-day simple moving average of $132.89. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 27.60, a P/E/G ratio of 1.25 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. Alphabet Inc. has a one year low of $88.86 and a one year high of $144.52.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, equities analysts expect that Alphabet Inc. will post 5.83 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total transaction of $28,698.00. Following the completion of the transaction, the director now owns 6,784 shares in the company, valued at $973,436.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total transaction of $28,698.00. Following the completion of the transaction, the director now owns 6,784 shares in the company, valued at $973,436.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 260 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $129.82, for a total transaction of $33,753.20. Following the completion of the transaction, the director now owns 4,759 shares of the company’s stock, valued at approximately $617,813.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,219 shares of company stock worth $22,785,375. Insiders own 12.99% of the company’s stock.

About Alphabet

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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