Bellecapital International Ltd. Has $7.44 Million Stock Holdings in Alphabet Inc. $GOOG

Bellecapital International Ltd. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,939 shares of the information services provider’s stock after selling 3,140 shares during the quarter. Alphabet accounts for 1.3% of Bellecapital International Ltd.’s holdings, making the stock its 25th biggest position. Bellecapital International Ltd.’s holdings in Alphabet were worth $7,440,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. RDA Financial Network lifted its holdings in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Tower View Wealth Management LLC raised its position in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet in the 2nd quarter valued at approximately $213,000. Truist Financial Corp lifted its stake in Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after acquiring an additional 15,065 shares in the last quarter. Finally, GC Wealth Management RIA LLC lifted its stake in Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after acquiring an additional 115,003 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the transaction, the chief accounting officer owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,372 shares of company stock valued at $55,110,740. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Scotiabank reaffirmed an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a research report on Thursday. Pivotal Research boosted their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.68.

Alphabet Stock Performance

Shares of GOOG stock opened at $253.79 on Monday. The company has a fifty day moving average price of $232.18 and a two-hundred day moving average price of $193.25. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.58. The stock has a market cap of $3.07 trillion, a P/E ratio of 27.03, 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 (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

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.