Hoffman Alan N Investment Management Sells 1,999 Shares of Alphabet Inc. $GOOGL

Hoffman Alan N Investment Management trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,452 shares of the information services provider’s stock after selling 1,999 shares during the quarter. Alphabet makes up 5.6% of Hoffman Alan N Investment Management’s holdings, making the stock its 5th largest position. Hoffman Alan N Investment Management’s holdings in Alphabet were worth $11,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Guardian Wealth Management Inc. increased its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC increased its holdings in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the first quarter valued at $39,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 189,896 shares of company stock valued at $44,892,175 over the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOGL opened at $284.75 on Friday. The company has a 50 day simple moving average of $249.91 and a 200 day simple moving average of $203.28. 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 1 year low of $140.53 and a 1 year high of $291.59. The firm has a market cap of $3.44 trillion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm 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%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, CIBC boosted their price target on Alphabet to $315.00 in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

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.