Navalign LLC Reduces Position in Alphabet Inc. $GOOG

Navalign LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 14.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,111 shares of the information services provider’s stock after selling 1,170 shares during the period. Navalign LLC’s holdings in Alphabet were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GOOG. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley grew its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC grew its position in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 222,330 shares of company stock valued at $51,167,625. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on GOOG shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank set a $336.00 target price on shares of Alphabet and gave the company a “sector outperform” rating in a research report on Thursday. Pivotal Research increased their target price on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho set a $325.00 target price on shares of Alphabet in a research report on Thursday. Finally, Barclays increased their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Trading Down 0.0%

Shares of Alphabet stock opened at $281.82 on Monday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.41 trillion, a P/E ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00. The company’s fifty day moving average is $244.59 and its two-hundred day moving average is $201.30.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the firm posted $2.12 EPS. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.