Atlas Wealth LLC Sells 2,981 Shares of Alphabet Inc. $GOOG

Atlas Wealth LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,188 shares of the information services provider’s stock after selling 2,981 shares during the quarter. Alphabet comprises about 3.0% of Atlas Wealth LLC’s investment portfolio, making the stock its 9th largest position. Atlas Wealth LLC’s holdings in Alphabet were worth $8,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Brighton Jones LLC grew its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Smart Money Group LLC grew its stake in Alphabet by 24.6% in the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock valued at $342,000 after acquiring an additional 432 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Alphabet by 10.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,917,077 shares of the information services provider’s stock valued at $294,817,000 after acquiring an additional 181,314 shares during the last quarter. Silverlake Wealth Management LLC grew its stake in Alphabet by 8.3% in the 1st quarter. Silverlake Wealth Management LLC now owns 3,109 shares of the information services provider’s stock valued at $486,000 after acquiring an additional 237 shares during the last quarter. Finally, New Insight Wealth Advisors grew its stake in Alphabet by 19.1% in the 1st quarter. New Insight Wealth Advisors now owns 3,361 shares of the information services provider’s stock valued at $525,000 after acquiring an additional 539 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 2.4%

Shares of GOOG stock opened at $284.75 on Thursday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The firm’s 50-day simple moving average is $249.02 and its 200-day simple moving average is $203.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.44 trillion, a P/E ratio of 28.08, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the firm posted $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 190,896 shares of company stock worth $45,092,175. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOG. Jefferies Financial Group increased their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Morgan Stanley increased 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. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.