EPG Wealth Management LLC Sells 2,444 Shares of Alphabet Inc. $GOOG

EPG Wealth Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 42.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,260 shares of the information services provider’s stock after selling 2,444 shares during the quarter. EPG Wealth Management LLC’s holdings in Alphabet were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Smart Money Group LLC lifted its position in Alphabet by 24.6% in the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock valued at $342,000 after acquiring an additional 432 shares in the last quarter. Forte Asset Management LLC bought a new stake in Alphabet in the 1st quarter valued at $645,000. Cloud Capital Management LLC bought a new stake in Alphabet in the 1st quarter valued at $3,430,000. Finally, Tradewinds LLC. lifted its position in Alphabet by 1.9% in the 1st quarter. Tradewinds LLC. now owns 44,838 shares of the information services provider’s stock valued at $7,005,000 after acquiring an additional 825 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wolfe Research boosted their price objective on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. KeyCorp reaffirmed an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research report on Thursday. Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday. Finally, Piper Sandler boosted their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $324.81.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were 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 in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was 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 $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. Insiders have sold 222,442 shares of company stock valued at $51,200,307 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.8%

Shares of GOOG stock opened at $284.12 on Tuesday. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The firm’s fifty day moving average price is $246.09 and its two-hundred day moving average price is $202.22. The firm has a market capitalization of $3.44 trillion, a P/E ratio of 28.02, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the previous year, the business earned $2.12 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet 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.