Alphabet Inc. $GOOG Stake Lowered by Tradewinds Capital Management LLC

Tradewinds Capital Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,411 shares of the information services provider’s stock after selling 68 shares during the period. Tradewinds Capital Management LLC’s holdings in Alphabet were worth $1,137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. Kingstone Capital Partners Texas LLC lifted its stake in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $2,622,943,000. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Alphabet in the 1st quarter valued at $369,713,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 1.3%

Alphabet stock opened at $257.02 on Tuesday. The firm has a market cap of $3.11 trillion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.72 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. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. The firm has a fifty day moving average price of $233.29 and a two-hundred day moving average price of $194.01.

Alphabet (NASDAQ:GOOG) last released its earnings results 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. 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 previous year, the business earned $1.89 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Analysts Set New Price Targets

GOOG has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Scotiabank reaffirmed an “outperform” rating and issued a $310.00 price objective on shares of Alphabet in a research note on Thursday. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $246.26.

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.