Searle & CO. Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Searle & CO. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,472 shares of the information services provider’s stock after selling 644 shares during the quarter. Searle & CO.’s holdings in Alphabet were worth $1,584,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. RFG Holdings Inc. purchased a new position in Alphabet during the 1st quarter valued at $384,000. Revolve Wealth Partners LLC boosted its stake in shares of Alphabet by 7.9% during the 1st quarter. Revolve Wealth Partners LLC now owns 10,250 shares of the information services provider’s stock valued at $1,561,000 after purchasing an additional 747 shares in the last quarter. DGS Capital Management LLC increased its position in shares of Alphabet by 9.1% during the first quarter. DGS Capital Management LLC now owns 28,635 shares of the information services provider’s stock valued at $4,360,000 after buying an additional 2,382 shares during the period. S.A. Mason LLC lifted its holdings in Alphabet by 3.9% in the first quarter. S.A. Mason LLC now owns 4,695 shares of the information services provider’s stock worth $715,000 after buying an additional 175 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Alphabet by 11.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 29,215 shares of the information services provider’s stock worth $4,448,000 after buying an additional 3,029 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of GOOG opened at $164.53 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm has a 50 day moving average of $163.28 and a 200 day moving average of $169.92. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.44 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the subject of several research reports. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Finally, Pivotal Research initiated coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is owned by corporate insiders.

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.