Prentice Wealth Management LLC Has $318,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Prentice Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,625 shares of the information services provider’s stock after selling 100 shares during the period. Prentice Wealth Management LLC’s holdings in Alphabet were worth $318,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC bought a new stake in shares of Alphabet during the 1st quarter valued at about $314,000. Jmac Enterprises LLC boosted its holdings in shares of Alphabet by 6.0% during the 1st quarter. Jmac Enterprises LLC now owns 17,707 shares of the information services provider’s stock valued at $1,842,000 after acquiring an additional 1,005 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Alphabet by 4.7% in the 1st quarter. Pinnacle Associates Ltd. now owns 392,090 shares of the information services provider’s stock worth $40,777,000 after purchasing an additional 17,471 shares during the period. Meyer Handelman Co. boosted its position in Alphabet by 7.4% in the first quarter. Meyer Handelman Co. now owns 264,040 shares of the information services provider’s stock worth $27,460,000 after purchasing an additional 18,210 shares during the last quarter. Finally, Windward Capital Management Co. CA grew its position in Alphabet by 2.1% during the first quarter. Windward Capital Management Co. CA now owns 317,199 shares of the information services provider’s stock valued at $32,989,000 after buying an additional 6,615 shares during the period. 27.13% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $138.30 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a one year low of $83.45 and a one year high of $139.55. The company has a market cap of $1.74 trillion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The business has a fifty day moving average of $129.86 and a two-hundred day moving average of $117.78.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the business posted $1.21 EPS. Alphabet’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the sale, the director now directly owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,497 shares of company stock worth $12,785,260. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Wedbush started coverage on shares of Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating for the company. Robert W. Baird boosted their target price on shares of Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Susquehanna increased their target price on shares of Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Finally, Oppenheimer upped their price objective on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $130.94.

About Alphabet

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.