Essex LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Essex LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,769 shares of the information services provider’s stock after selling 439 shares during the quarter. Alphabet makes up 0.9% of Essex LLC’s portfolio, making the stock its 26th biggest holding. Essex LLC’s holdings in Alphabet were worth $4,476,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GOOG. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the second quarter worth $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the second quarter worth $40,000. Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the second quarter worth $44,000. Finally, Hoese & Co LLP raised its holdings in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,406,343.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $165.05 on Monday. The stock has a fifty day moving average price of $163.18 and a 200 day moving average price of $169.77. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 25.31, a PEG ratio of 1.21 and a beta of 1.04.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GOOG shares. Scotiabank started coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.90.

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.