Atlantic Edge Private Wealth Management LLC Sells 150 Shares of Alphabet Inc. $GOOG

Atlantic Edge Private Wealth Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,858 shares of the information services provider’s stock after selling 150 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Alphabet were worth $330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFS Advisors LLC boosted its position in Alphabet by 400.0% during the 2nd 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 boosted its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the 1st quarter valued at $26,000. Finally, Fairman Group LLC boosted its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. UBS Group set a $255.00 target price on Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 9th. Morgan Stanley increased their target price on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Robert W. Baird increased their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.26.

Alphabet Stock Performance

Shares of GOOG stock opened at $253.73 on Friday. The firm has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day moving average of $236.22 and a 200 day moving average of $195.53. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was 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 of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last 90 days. Insiders own 12.99% of the company’s stock.

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.