Quantum Capital Management LLC NJ Sells 3,029 Shares of Alphabet Inc. (NASDAQ:GOOG)

Quantum Capital Management LLC NJ lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 62,943 shares of the information services provider’s stock after selling 3,029 shares during the quarter. Alphabet accounts for about 0.9% of Quantum Capital Management LLC NJ’s investment portfolio, making the stock its 16th largest holding. Quantum Capital Management LLC NJ’s holdings in Alphabet were worth $7,614,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Totem Point Management LLC boosted its position in Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares during the period. Somerville Kurt F boosted its position in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the period. BCK Partners Inc. purchased a new stake in Alphabet during the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. boosted its position in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after buying an additional 50 shares during the period. Finally, Fairfield Bush & CO. boosted its position in Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after buying an additional 214 shares during the period. Institutional investors own 27.13% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.65 during trading hours on Monday, hitting $137.59. 8,213,291 shares of the stock traded hands, compared to its average volume of 25,864,332. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $85.57 and a 1 year high of $142.38. The company has a market cap of $1.72 trillion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The stock has a 50 day moving average price of $134.60 and a 200 day moving average price of $128.47.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The firm had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. Sell-side analysts forecast that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total value of $27,986.00. Following the transaction, the director now owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $130.14, for a total value of $28,630.80. Following the sale, the director now owns 4,818 shares in the company, valued at $627,014.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the sale, the director now owns 7,384 shares in the company, valued at approximately $1,033,243.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,576 shares of company stock valued at $23,425,367. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOG. Robert W. Baird raised their target price on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Oppenheimer reissued an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Susquehanna lifted their price target on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Finally, Wedbush started coverage on shares of Alphabet in a research note on Monday, August 21st. They set an “outperform” rating for the company. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $130.69.

Alphabet Company 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.