Hoffman Alan N Investment Management Has $2.98 Million Stock Holdings in Alphabet Inc. $GOOG

Hoffman Alan N Investment Management lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 9.3% during the second quarter, Holdings Channel reports. The fund owned 16,770 shares of the information services provider’s stock after selling 1,726 shares during the period. Alphabet comprises 1.5% of Hoffman Alan N Investment Management’s holdings, making the stock its 6th biggest holding. Hoffman Alan N Investment Management’s holdings in Alphabet were worth $2,975,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ACT Advisors LLC. raised its stake in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares in the last quarter. Moser Wealth Advisors LLC raised its position in Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management raised its position in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates lifted its stake in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after purchasing an additional 56 shares during the last quarter. Finally, Greenup Street Wealth Management LLC boosted its position in Alphabet by 0.5% during the second quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock valued at $2,068,000 after buying an additional 56 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOG opened at $268.43 on Wednesday. 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 $271.38. The stock has a market capitalization of $3.25 trillion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00. The stock’s 50 day moving average price is $239.97 and its 200-day moving average price is $198.46.

Analysts Set New Price Targets

Several research firms have recently commented on GOOG. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research raised their price target on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Five equities research 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. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $280.45.

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.