Wealthstream Advisors Inc. Sells 1,552 Shares of Alphabet Inc. $GOOG

Wealthstream Advisors Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,364 shares of the information services provider’s stock after selling 1,552 shares during the quarter. Wealthstream Advisors Inc.’s holdings in Alphabet were worth $1,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. DeDora Capital Inc. boosted its stake in Alphabet by 1.7% in the 2nd quarter. DeDora Capital Inc. now owns 25,162 shares of the information services provider’s stock worth $4,463,000 after purchasing an additional 422 shares during the period. Northern Capital Management Inc. boosted its position in shares of Alphabet by 5.7% during the 2nd quarter. Northern Capital Management Inc. now owns 3,857 shares of the information services provider’s stock valued at $684,000 after acquiring an additional 209 shares during the last quarter. Schubert & Co bought a new stake in shares of Alphabet during the 2nd quarter valued at about $310,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Alphabet during the 2nd quarter valued at about $174,516,000. Finally, Signature Estate & Investment Advisors LLC boosted its position in shares of Alphabet by 2.6% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 28,985 shares of the information services provider’s stock valued at $5,142,000 after acquiring an additional 734 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $251.34 on Wednesday. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.74 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.88. The stock’s 50-day moving average is $234.23 and its 200 day moving average is $194.41.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. TD Cowen lifted their price target on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $246.26.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% of the company’s stock.

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