FDx Advisors Inc. Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

FDx Advisors Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 81.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,402 shares of the information services provider’s stock after selling 15,425 shares during the period. FDx Advisors Inc.’s holdings in Alphabet were worth $9,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Affinity Capital Advisors LLC lifted its stake in Alphabet by 1.3% in the fourth quarter. Affinity Capital Advisors LLC now owns 310 shares of the information services provider’s stock valued at $898,000 after buying an additional 4 shares during the last quarter. Summit Financial Strategies Inc. lifted its stake in Alphabet by 1.3% in the fourth quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider’s stock valued at $933,000 after buying an additional 4 shares during the last quarter. Palisades Hudson Asset Management L.P. lifted its stake in Alphabet by 1.1% in the fourth quarter. Palisades Hudson Asset Management L.P. now owns 361 shares of the information services provider’s stock valued at $1,046,000 after buying an additional 4 shares during the last quarter. AFT Forsyth & Company Inc. lifted its stake in Alphabet by 0.3% in the fourth quarter. AFT Forsyth & Company Inc. now owns 1,183 shares of the information services provider’s stock valued at $3,427,000 after buying an additional 4 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC lifted its stake in Alphabet by 6.8% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 63 shares of the information services provider’s stock valued at $175,000 after buying an additional 4 shares during the last quarter. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $116.32 on Monday. The business’s 50-day moving average price is $154.46 and its 200 day moving average price is $138.72. Alphabet Inc. has a twelve month low of $101.88 and a twelve month high of $151.55. The company has a market capitalization of $1.53 trillion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period in the previous year, the company earned $27.26 EPS. On average, research analysts predict that Alphabet Inc. will post 5.37 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $98,082.60. Following the completion of the transaction, the chief accounting officer now owns 1,170 shares in the company, valued at $2,732,301. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,269 shares of company stock worth $12,792,226. 11.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on Alphabet from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, April 27th. Exane BNP Paribas cut Alphabet from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 20th. Moffett Nathanson cut their price target on Alphabet to $132.50 in a research note on Thursday, May 26th. Citigroup cut their price target on Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Finally, Morgan Stanley upped their price target on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.29.

Alphabet Company Profile

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Want More Great Investing Ideas?

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.