Stonnington Group LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Stonnington Group LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.4% during the second quarter, HoldingsChannel.com reports. The fund owned 2,646 shares of the information services provider’s stock after selling 150 shares during the quarter. Alphabet makes up approximately 1.7% of Stonnington Group LLC’s investment portfolio, making the stock its 11th biggest holding. Stonnington Group LLC’s holdings in Alphabet were worth $6,286,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. WNY Asset Management LLC boosted its position in shares of Alphabet by 2.1% in the fourth quarter. WNY Asset Management LLC now owns 195 shares of the information services provider’s stock worth $567,000 after acquiring an additional 4 shares during the last quarter. First Farmers & Merchants Bank Trust boosted its position in shares of Alphabet by 4.4% in the first quarter. First Farmers & Merchants Bank Trust now owns 94 shares of the information services provider’s stock worth $261,000 after acquiring an additional 4 shares during the last quarter. Harbour Capital Advisors LLC lifted its position in Alphabet by 0.3% during the first quarter. Harbour Capital Advisors LLC now owns 1,298 shares of the information services provider’s stock valued at $3,610,000 after buying an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Alphabet by 0.4% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,000 shares of the information services provider’s stock valued at $2,781,000 after buying an additional 4 shares in the last quarter. Finally, Traverso Chambers Private Wealth Management LLC lifted its position in Alphabet by 1.4% during the first quarter. Traverso Chambers Private Wealth Management LLC now owns 299 shares of the information services provider’s stock valued at $832,000 after buying an additional 4 shares in the last quarter. 1.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 34,799 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the sale, the insider now owns 18,484 shares in the company, valued at approximately $2,185,733. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 42 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the transaction, the chief accounting officer now owns 1,192 shares in the company, valued at $2,582,754.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 34,799 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the transaction, the insider now owns 18,484 shares in the company, valued at approximately $2,185,733. The disclosure for this sale can be found here. Insiders sold 44,536 shares of company stock valued at $15,729,998 over the last 90 days. 11.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. Truist Financial reduced their price target on shares of Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Citigroup dropped their price objective on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. JMP Securities dropped their price target on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a research note on Thursday, June 30th. Exane BNP Paribas lowered shares of Alphabet from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 20th. Finally, BNP Paribas lowered shares of Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 price target for the company. in a research note on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.41.

Alphabet Stock Performance

GOOGL stock opened at $102.80 on Monday. The company has a market capitalization of $1.34 trillion, a P/E ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09. The company has a 50-day simple moving average of $112.93 and a 200 day simple moving average of $118.84. Alphabet Inc. has a fifty-two week low of $100.94 and a fifty-two week high of $151.55. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). The company had revenue of $57.47 billion during the quarter, compared to analyst estimates of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the company earned $27.26 EPS. Sell-side analysts predict that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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