KPP Advisory Services LLC Cuts Stock Holdings in Alphabet Inc. $GOOG

KPP Advisory Services LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,350 shares of the information services provider’s stock after selling 568 shares during the period. KPP Advisory Services LLC’s holdings in Alphabet were worth $1,481,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. IFS Advisors LLC boosted 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 during the last quarter. Robbins Farley boosted its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its position in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter worth $26,000. Finally, Fairman Group LLC boosted its position in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $260.51 on Friday. The firm has a market cap of $3.15 trillion, a PE ratio of 27.74, a PEG ratio of 1.76 and a beta of 1.00. The stock’s fifty day moving average price is $237.33 and its two-hundred day moving average price is $196.66. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $262.51.

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, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last 90 days. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOG. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Jefferies Financial Group boosted their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Oppenheimer set a $300.00 price objective on Alphabet and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.68.

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.