Alphabet Inc. (NASDAQ:GOOGL) Holdings Lowered by Apriem Advisors

Apriem Advisors reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,574 shares of the information services provider’s stock after selling 1,554 shares during the quarter. Alphabet accounts for 2.5% of Apriem Advisors’ holdings, making the stock its 10th largest position. Apriem Advisors’ holdings in Alphabet were worth $16,827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Modera Wealth Management LLC grew its position in shares of Alphabet by 11.4% during the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after acquiring an additional 4,420 shares during the period. Atria Investments Inc grew its holdings in Alphabet by 7.4% in the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after purchasing an additional 21,907 shares during the period. Cadent Capital Advisors LLC increased its position in shares of Alphabet by 3.4% in the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock valued at $498,000 after buying an additional 136 shares in the last quarter. Hallmark Capital Management Inc. raised its stake in shares of Alphabet by 8.9% during the 1st quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after buying an additional 13,605 shares during the period. Finally, Soltis Investment Advisors LLC lifted its position in shares of Alphabet by 17.1% during the 1st quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock valued at $4,842,000 after buying an additional 6,825 shares in the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $135.56, for a total transaction of $31,178.80. Following the completion of the sale, the director now directly owns 13,618 shares in the company, valued at $1,846,056.08. The disclosure for this sale can be found here. Insiders have sold a total of 176,576 shares of company stock worth $23,425,367 in the last quarter. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Susquehanna restated a “positive” rating and set a $150.00 price objective on shares of Alphabet in a research report on Thursday, August 31st. Jefferies Financial Group upped their price target on shares of Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Royal Bank of Canada reissued an “outperform” rating and set a $155.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Finally, Monness Crespi & Hardt cut shares of Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Alphabet Trading Down 1.2 %

Shares of GOOGL stock opened at $135.31 on Monday. Alphabet Inc. has a fifty-two week low of $84.86 and a fifty-two week high of $141.22. The company has a 50 day moving average price of $133.44 and a 200 day moving average price of $127.65. The stock has a market capitalization of $1.69 trillion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. 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 (NASDAQ:GOOGL) last posted 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 the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. Equities research analysts predict that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

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