Alphabet Inc. $GOOG Holdings Reduced by Financial Alternatives Inc

Financial Alternatives Inc lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 19.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,490 shares of the information services provider’s stock after selling 350 shares during the quarter. Financial Alternatives Inc’s holdings in Alphabet were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Smart Money Group LLC lifted its position in Alphabet by 24.6% in the first quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock worth $342,000 after purchasing an additional 432 shares during the period. Leavell Investment Management Inc. boosted its stake in Alphabet by 4.0% during the 1st quarter. Leavell Investment Management Inc. now owns 98,777 shares of the information services provider’s stock valued at $15,432,000 after purchasing an additional 3,757 shares in the last quarter. Forza Wealth Management LLC boosted its stake in Alphabet by 2.0% during the 1st quarter. Forza Wealth Management LLC now owns 3,519 shares of the information services provider’s stock valued at $550,000 after purchasing an additional 70 shares in the last quarter. Finally, Peddock Capital Advisors LLC increased its position in shares of Alphabet by 1.1% during the 1st quarter. Peddock Capital Advisors LLC now owns 6,133 shares of the information services provider’s stock valued at $958,000 after purchasing an additional 66 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG opened at $285.34 on Friday. The company has a 50-day moving average of $250.48 and a two-hundred day moving average of $204.23. The stock has a market cap of $3.45 trillion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. KeyCorp reissued an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Piper Sandler lifted their price objective on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Jefferies Financial Group boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. The trade was a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 189,896 shares of company stock worth $44,892,175. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.