Alphabet Inc. $GOOG Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,618 shares of the information services provider’s stock after selling 4,256 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Alphabet were worth $32,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Alphabet by 5.6% in the fourth 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 in the last quarter. Revisor Wealth Management LLC lifted its position in shares of Alphabet by 107.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after acquiring an additional 1,899 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Alphabet by 19.5% in the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock worth $14,323,000 after buying an additional 14,931 shares during the period. Primoris Wealth Advisors LLC boosted its position in Alphabet by 0.4% during the 1st quarter. Primoris Wealth Advisors LLC now owns 16,800 shares of the information services provider’s stock worth $2,625,000 after acquiring an additional 75 shares during the period. Finally, Tranquility Partners LLC boosted its holdings in shares of Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after purchasing an additional 63 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Oppenheimer set a $300.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Monday, October 20th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group set a $255.00 target price on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 9th. TD Cowen lifted their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.68.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $260.51 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $262.51. The company has a market cap of $3.15 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.76 and a beta of 1.00. The business’s 50 day moving average is $237.33 and its two-hundred day moving average is $196.66. 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 data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the business earned $1.89 earnings per share. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

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.