Roundview Capital LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Roundview Capital LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 251,487 shares of the information services provider’s stock after selling 10,862 shares during the period. Alphabet makes up about 2.8% of Roundview Capital LLC’s holdings, making the stock its 5th largest holding. Roundview Capital LLC’s holdings in Alphabet were worth $39,290,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $26,000. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter worth about $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $32,000. Finally, WealthTrak Capital Management LLC bought a new position in Alphabet during the 4th quarter valued at about $38,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOG shares. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Westpark Capital reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Citigroup reiterated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.44.

Alphabet Stock Performance

NASDAQ:GOOG opened at $192.11 on Wednesday. The firm has a market capitalization of $2.33 trillion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock’s 50-day simple moving average is $174.02 and its 200 day simple moving average is $174.50.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the business posted $1.89 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,409 shares of company stock valued at $43,523,710. Corporate insiders own 12.99% of the company’s stock.

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.