Alphabet Inc. (NASDAQ:GOOG) Holdings Trimmed by IFM Investors Pty Ltd

IFM Investors Pty Ltd reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,090,979 shares of the information services provider’s stock after selling 24,421 shares during the quarter. Alphabet makes up approximately 1.8% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 7th largest position. IFM Investors Pty Ltd’s holdings in Alphabet were worth $182,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in Alphabet in the second quarter worth approximately $37,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter worth $40,000. Slocum Gordon & Co LLP bought a new stake in Alphabet during the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Pivotal Research began coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $166.99 on Friday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50-day simple moving average is $163.31 and its 200-day simple moving average is $169.88.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. Alphabet’s revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

About Alphabet

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.