Alphabet Inc. $GOOG Shares Sold by Black Diamond Financial LLC

Black Diamond Financial LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,457 shares of the information services provider’s stock after selling 585 shares during the period. Black Diamond Financial LLC’s holdings in Alphabet were worth $1,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. 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 valued at $288,000 after acquiring an additional 55 shares during the period. LongView Wealth Management grew its stake in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the period. Kooman & Associates grew its stake in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares during the period. Greenup Street Wealth Management LLC grew its stake in Alphabet by 0.5% in the 2nd quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock valued at $2,068,000 after acquiring an additional 56 shares during the period. Finally, Colton Groome Financial Advisors LLC grew its stake in Alphabet by 3.4% in the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after acquiring an additional 57 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $260.51 on Friday. The firm has a 50-day simple moving average of $237.33 and a 200-day simple moving average of $196.32. The stock has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $262.51.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’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 completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Pivotal Research lifted their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $249.68.

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.