Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Concentrum Wealth Management

Concentrum Wealth Management lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,558 shares of the information services provider’s stock after selling 439 shares during the quarter. Concentrum Wealth Management’s holdings in Alphabet were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Spreng Capital Management Inc. boosted its stake in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. lifted its stake in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. boosted its position in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the last quarter. Private Advisory Group LLC grew its stake in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the period. Finally, Weik Capital Management raised its holdings in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $135.31 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $84.86 and a fifty-two week high of $141.22. The business has a 50 day moving average price of $133.44 and a two-hundred day moving average price of $127.65. The firm has a market cap of $1.69 trillion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The business had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. Sell-side analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the transaction, the director now owns 7,184 shares of the company’s stock, valued at $954,897.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $132.92, for a total transaction of $26,584.00. Following the sale, the director now directly owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 220 shares of Alphabet stock in a transaction on Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the transaction, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,576 shares of company stock valued at $23,425,367. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. Bank of America lifted their price objective on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Rosenblatt Securities upped their price objective on shares of Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Monness Crespi & Hardt cut shares of Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Piper Sandler upped their price target on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Finally, Sanford C. Bernstein increased their price target on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Five analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.