Alphabet Inc. (NASDAQ:GOOG) is Nelson Capital Management LLC’s 9th Largest Position

Nelson Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,391 shares of the information services provider’s stock after selling 3,137 shares during the quarter. Alphabet makes up approximately 3.0% of Nelson Capital Management LLC’s holdings, making the stock its 9th largest holding. Nelson Capital Management LLC’s holdings in Alphabet were worth $11,781,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOOG. DC Investments Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $115,000. Guardian Wealth Management Inc. purchased a new stake in Alphabet in the first quarter worth $184,000. Turim 21 Investimentos Ltda. raised its holdings in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares in the last quarter. qPULA Trading Management LP purchased a new position in Alphabet during the first quarter valued at $279,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in Alphabet by 29.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG traded down $1.76 on Friday, hitting $136.94. The stock had a trading volume of 25,590,191 shares, compared to its average volume of 25,945,371. Alphabet Inc. has a 52-week low of $85.57 and a 52-week high of $142.38. The stock has a market cap of $1.71 trillion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $134.60 and its two-hundred day simple moving average is $128.32.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The company had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. As a group, research analysts predict that Alphabet Inc. will post 5.74 earnings per share for the current year.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the transaction, the director now directly owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the transaction, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $27,460.00. Following the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock valued at $23,425,367 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Susquehanna increased their price target on shares of Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Wedbush began coverage on shares of Alphabet in a research note on Monday, August 21st. They set an “outperform” rating for the company. Oppenheimer reissued an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Finally, Robert W. Baird lifted their target price on shares of Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $130.69.

Alphabet Profile

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.