Reliant Investment Partners LLC Has $212,000 Position in Alphabet Inc. $GOOG

Reliant Investment Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,196 shares of the information services provider’s stock after selling 102 shares during the quarter. Reliant Investment Partners LLC’s holdings in Alphabet were worth $212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFS Advisors LLC raised its position in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley grew its stake 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 purchasing an additional 60 shares during the period. WestEnd Advisors LLC raised its holdings 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 worth $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC raised its holdings 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 worth $31,000 after buying an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 2.5%

Shares of NASDAQ GOOG opened at $275.17 on Thursday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $275.97. The firm’s 50-day simple moving average is $241.46 and its 200 day simple moving average is $199.27. 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 $3.33 trillion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same period in the prior year, the firm earned $2.12 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last quarter. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on GOOG shares. Oppenheimer set a $300.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Monday, October 20th. Scotiabank reaffirmed an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a report on Thursday, October 16th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $297.56.

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.