Blue Investment Partners LLC Has $1.37 Million Position in Alphabet Inc. $GOOG

Blue Investment Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.7% in the second quarter, Holdings Channel reports. The institutional investor owned 7,693 shares of the information services provider’s stock after selling 467 shares during the period. Alphabet accounts for approximately 0.5% of Blue Investment Partners LLC’s holdings, making the stock its 27th largest position. Blue Investment Partners LLC’s holdings in Alphabet were worth $1,365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GOOG. IFS Advisors LLC grew its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC lifted its holdings in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the period. 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. acquired a new stake in shares of Alphabet in the first quarter valued at about $32,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.2%

Alphabet stock opened at $285.34 on Friday. The company has a market capitalization of $3.45 trillion, a PE ratio of 28.14, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The firm’s fifty day moving average is $250.48 and its 200 day moving average is $204.23. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating 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 firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 189,896 shares of company stock valued at $44,892,175. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. JPMorgan Chase & Co. lifted their price objective on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Mizuho set a $325.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Finally, Scotiabank set a $336.00 price target on shares of Alphabet and gave the company a “sector outperform” rating in a research report on Thursday, October 30th. Five research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $324.81.

About Alphabet

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.