Keeler Thomas Management LLC Trims Holdings in Alphabet Inc. $GOOGL

Keeler Thomas Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 13.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,658 shares of the information services provider’s stock after selling 1,896 shares during the period. Alphabet comprises 1.0% of Keeler Thomas Management LLC’s investment portfolio, making the stock its 25th biggest holding. Keeler Thomas Management LLC’s holdings in Alphabet were worth $2,231,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOGL. Truist Financial upped their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Oppenheimer boosted their price target on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Susquehanna boosted their price target on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, KeyCorp reiterated an “overweight” rating and set a $300.00 price target (up previously from $265.00) on shares of Alphabet in a report on Monday, October 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $303.09.

Alphabet Trading Down 2.2%

Shares of Alphabet stock opened at $277.54 on Wednesday. The company has a fifty day simple moving average of $246.91 and a 200-day simple moving average of $202.13. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.36 trillion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 190,896 shares of company stock worth $45,092,175. Corporate insiders own 11.64% of the company’s stock.

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.