Mountain Capital Investment Advisors Inc. Sells 84 Shares of Alphabet Inc. $GOOG

Mountain Capital Investment Advisors Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,801 shares of the information services provider’s stock after selling 84 shares during the period. Mountain Capital Investment Advisors Inc.’s holdings in Alphabet were worth $319,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. ACT Advisors LLC. grew its stake in Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares in the last quarter. LongView Wealth Management boosted its stake in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares in the last quarter. Kooman & Associates boosted its stake in shares of Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC boosted its stake in shares of Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC boosted its stake in shares of Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock valued at $389,000 after purchasing an additional 58 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOOG. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $246.26.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Up 0.5%

NASDAQ:GOOG opened at $252.53 on Thursday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.88. The firm has a 50 day moving average of $235.22 and a 200 day moving average of $194.81. 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 stock has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, sell-side 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.