KPP Advisory Services LLC Sells 568 Shares of Alphabet Inc. $GOOG

KPP Advisory Services LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,350 shares of the information services provider’s stock after selling 568 shares during the quarter. KPP Advisory Services LLC’s holdings in Alphabet were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC raised its position in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. Nuveen LLC acquired a new stake in Alphabet during the first quarter worth approximately $2,622,943,000. Vanguard Group Inc. grew its stake in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. grew its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new stake in Alphabet during the first quarter worth approximately $369,713,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOG has been the subject of several recent analyst reports. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Friday. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $249.68.

Alphabet Trading Up 2.7%

Shares of Alphabet stock opened at $260.51 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $262.51. The stock has a 50 day moving average price of $237.33 and a two-hundred day moving average price of $196.66. The stock has a market capitalization of $3.15 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00.

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

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Company 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.