Capital Insight Partners LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Capital Insight Partners LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 46,894 shares of the information services provider’s stock after selling 409 shares during the period. Alphabet comprises about 1.4% of Capital Insight Partners LLC’s portfolio, making the stock its 19th biggest holding. Capital Insight Partners LLC’s holdings in Alphabet were worth $7,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. SG Americas Securities LLC increased its holdings in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Wulff Hansen & CO. increased its stake in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. PineStone Asset Management Inc. increased its stake in shares of Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. BMO Capital Markets reduced their price objective on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Citigroup increased their price objective on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Finally, Jefferies Financial Group upped their target price on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Trading Up 0.3 %

GOOGL stock opened at $163.42 on Friday. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm’s 50-day moving average is $161.77 and its 200 day moving average is $168.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the firm posted $1.44 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.64 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.