Alpha Cubed Investments LLC Sells 644 Shares of Alphabet Inc (NASDAQ:GOOG)

Alpha Cubed Investments LLC lowered its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 27.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,736 shares of the information services provider’s stock after selling 644 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $2,551,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Virtus ETF Advisers LLC bought a new stake in Alphabet during the 2nd quarter worth about $38,000. Campbell Wealth Management bought a new stake in Alphabet during the 2nd quarter worth about $41,000. Prestige Wealth Management Group LLC grew its holdings in Alphabet by 1,700.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the last quarter. Islay Capital Management LLC grew its holdings in Alphabet by 40.0% during the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock worth $49,000 after acquiring an additional 10 shares during the last quarter. Finally, Cedar Mountain Advisors LLC grew its holdings in Alphabet by 34.4% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock worth $61,000 after acquiring an additional 11 shares during the last quarter. 32.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOG stock opened at $1,573.01 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The company has a market capitalization of $1,069.90 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. The company’s 50 day moving average price is $1,525.61 and its two-hundred day moving average price is $1,436.75. Alphabet Inc has a 52 week low of $1,013.54 and a 52 week high of $1,733.18.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. Analysts forecast that Alphabet Inc will post 44.84 earnings per share for the current year.

In other Alphabet news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the sale, the director now directly owns 517 shares in the company, valued at approximately $795,295.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 22 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the sale, the director now owns 1,134 shares in the company, valued at $1,683,162.18. The disclosure for this sale can be found here. Insiders have sold a total of 142 shares of company stock worth $213,357 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

GOOG has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Mizuho raised their target price on shares of Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Pivotal Research raised their target price on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, BidaskClub lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $1,703.33.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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