Alphabet Inc. $GOOG Shares Sold by Trust Investment Advisors

Trust Investment Advisors cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,092 shares of the information services provider’s stock after selling 435 shares during the period. Alphabet makes up approximately 1.3% of Trust Investment Advisors’ holdings, making the stock its 16th biggest position. Trust Investment Advisors’ holdings in Alphabet were worth $2,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. IFS Advisors LLC lifted its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% in the 2nd 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 lifted its position in shares of Alphabet by 58.7% in the 2nd 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 lifted 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 acquiring an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’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 transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. Cowen restated a “buy” rating on shares of Alphabet in a report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group increased their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Up 2.4%

GOOG stock opened at $281.90 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.86 and a beta of 1.00. The company has a 50 day moving average of $243.09 and a two-hundred day moving average of $199.85.

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

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.