Roffman Miller Associates Inc. PA Cuts Stock Position in Alphabet Inc. $GOOG

Roffman Miller Associates Inc. PA lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,697 shares of the information services provider’s stock after selling 869 shares during the quarter. Roffman Miller Associates Inc. PA’s holdings in Alphabet were worth $5,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. IFS Advisors LLC increased its holdings in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley increased its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC increased its holdings in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC increased its holdings in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOOG shares. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Pivotal Research upped their price target on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Piper Sandler upped their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Trading Down 2.1%

GOOG opened at $278.06 on Wednesday. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93. The company has a market cap of $3.36 trillion, a P/E ratio of 27.42, a PEG ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business’s 50-day simple moving average is $247.49 and its 200-day simple moving average is $203.10.

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

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated 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 represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 190,896 shares of company stock worth $45,092,175. Insiders own 12.99% of the company’s stock.

Alphabet 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.