Guinness Atkinson Asset Management Inc Sells 256 Shares of Alphabet Inc. $GOOG

Guinness Atkinson Asset Management Inc cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 14.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,536 shares of the information services provider’s stock after selling 256 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Alphabet were worth $272,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOOG. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% in the second 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 grew its holdings in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC grew its holdings in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC grew its holdings in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the first quarter valued at $32,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 2.5%

NASDAQ:GOOG opened at $275.17 on Thursday. The company has a market cap of $3.33 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.81 and a beta of 1.00. The stock’s fifty day moving average price is $241.46 and its two-hundred day moving average price is $199.27. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $275.97. 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 (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on GOOG. JPMorgan Chase & Co. increased their price objective on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group increased their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. UBS Group set a $255.00 price objective on Alphabet and gave the company a “neutral” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Raymond James Financial set a $275.00 price objective on Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $297.56.

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.