Grandview Asset Management LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Grandview Asset Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 10.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 984 shares of the information services provider’s stock after selling 109 shares during the period. Alphabet makes up approximately 1.2% of Grandview Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. Grandview Asset Management LLC’s holdings in Alphabet were worth $2,144,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GOOGL. WNY Asset Management LLC boosted its position in Alphabet by 2.1% in the 4th quarter. WNY Asset Management LLC now owns 195 shares of the information services provider’s stock valued at $567,000 after buying an additional 4 shares during the period. First Farmers & Merchants Bank Trust boosted its position in Alphabet by 4.4% in the 1st quarter. First Farmers & Merchants Bank Trust now owns 94 shares of the information services provider’s stock valued at $261,000 after buying an additional 4 shares during the period. Harbour Capital Advisors LLC boosted its position in Alphabet by 0.3% in the 1st 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 during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Alphabet by 0.4% in the 1st 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 during the period. Finally, Traverso Chambers Private Wealth Management LLC boosted its position in Alphabet by 1.4% in the 1st 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 during the period. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Alphabet Stock Down 1.9 %

GOOGL stock opened at $101.14 on Wednesday. The company has a market cap of $1.32 trillion, a P/E ratio of 18.82, a P/E/G ratio of 1.66 and a beta of 1.09. Alphabet Inc. has a 52 week low of $100.52 and a 52 week high of $151.55. The company’s 50-day moving average price is $112.60 and its 200 day moving average price is $118.51. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The business had revenue of $57.47 billion during the quarter, compared to analysts’ expectations of $57.55 billion. During the same period last year, the company earned $27.26 EPS. On average, research analysts expect that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. Evercore ISI reduced their price objective on shares of Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. MKM Partners reduced their price objective on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, July 18th. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Morgan Stanley raised their price objective on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 27th. Finally, Mizuho reduced their price objective on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.41.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the sale, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the transaction, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now directly owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold 44,536 shares of company stock valued at $15,729,998 over the last quarter. Corporate insiders own 11.44% of the company’s stock.

Alphabet Company 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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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