Delta Investment Management LLC Decreases Stake in Alphabet Inc. $GOOGL

Delta Investment Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,508 shares of the information services provider’s stock after selling 1,457 shares during the period. Alphabet comprises 1.2% of Delta Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. Delta Investment Management LLC’s holdings in Alphabet were worth $6,081,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GOOGL. Gimbal Financial lifted its stake in shares of Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co raised its holdings in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC lifted its position in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC boosted its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares during the period. Finally, Financial Council LLC boosted its holdings in Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.2%

Shares of NASDAQ GOOGL opened at $284.75 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. 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’s 50 day simple moving average is $249.91 and its 200 day simple moving average is $203.28.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $99.90 billion. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 189,896 shares of company stock worth $44,892,175. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GOOGL shares. Melius Research lifted their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Evercore ISI raised their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, President Capital lifted their price objective on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

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.