Alphabet Inc. $GOOG Shares Sold by Transatlantique Private Wealth LLC

Transatlantique Private Wealth LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,224 shares of the information services provider’s stock after selling 641 shares during the period. Alphabet makes up about 1.1% of Transatlantique Private Wealth LLC’s investment portfolio, making the stock its 20th largest holding. Transatlantique Private Wealth LLC’s holdings in Alphabet were worth $3,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFS Advisors LLC raised its stake in shares of Alphabet by 400.0% during the second 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 in the last quarter. Robbins Farley boosted its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its holdings in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 2.1%

Shares of GOOG opened at $278.06 on Wednesday. The business’s 50-day moving average price is $247.49 and its 200 day moving average price is $203.10. The stock has a market capitalization of $3.36 trillion, a P/E ratio of 27.42, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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 analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the business’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 sale, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’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 approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 190,896 shares of company stock worth $45,092,175. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GOOG shares. UBS Group reiterated a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Morgan Stanley increased their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Sanford C. Bernstein increased their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price 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.