Polaris Wealth Advisory Group LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Polaris Wealth Advisory Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 9.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,327 shares of the information services provider’s stock after selling 454 shares during the period. Polaris Wealth Advisory Group LLC’s holdings in Alphabet were worth $9,430,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Alphabet by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares during the last quarter. State Street Corp boosted its position in Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after buying an additional 157,280 shares during the period. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $14,477,662,000. Aaron Wealth Advisors LLC lifted its position in Alphabet by 699,790.2% during the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after acquiring an additional 4,702,590 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Alphabet by 4.3% during the first quarter. Fisher Asset Management LLC now owns 2,025,990 shares of the information services provider’s stock valued at $5,634,988,000 after acquiring an additional 83,043 shares during the last quarter. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Philipp Schindler sold 3,834 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $2,182.62, for a total value of $8,368,165.08. Following the transaction, the senior vice president now directly owns 12,676 shares of the company’s stock, valued at $27,666,891.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,536 shares of company stock worth $15,729,998. 11.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. Oppenheimer dropped their price target on shares of Alphabet to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. MKM Partners dropped their price target on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Rosenblatt Securities lifted their price target on shares of Alphabet from $154.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, September 7th. Itaú Unibanco assumed coverage on shares of Alphabet in a report on Tuesday, July 26th. They issued a “market perform” rating and a $113.00 price objective for the company. Finally, Citigroup decreased their price target on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Five equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.41.

Alphabet Stock Down 1.8 %

Shares of Alphabet stock opened at $99.28 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The company has a market capitalization of $1.30 trillion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. Alphabet Inc. has a 1 year low of $99.27 and a 1 year high of $151.55. The business has a 50-day moving average of $112.02 and a two-hundred day moving average of $118.04.

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