Schneider Downs Wealth Management Advisors LP Cuts Holdings in Alphabet Inc. $GOOG

Schneider Downs Wealth Management Advisors LP trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,270 shares of the information services provider’s stock after selling 120 shares during the quarter. Schneider Downs Wealth Management Advisors LP’s holdings in Alphabet were worth $935,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Heirloom Wealth Management increased its holdings in Alphabet by 0.4% during the second quarter. Heirloom Wealth Management now owns 126,524 shares of the information services provider’s stock valued at $22,444,000 after buying an additional 485 shares during the period. Cabot Wealth Management Inc. increased its holdings in Alphabet by 0.5% during the second quarter. Cabot Wealth Management Inc. now owns 122,875 shares of the information services provider’s stock valued at $21,797,000 after buying an additional 583 shares during the period. Stegent Equity Advisors Inc. grew its holdings in Alphabet by 2.8% in the second quarter. Stegent Equity Advisors Inc. now owns 2,343 shares of the information services provider’s stock worth $416,000 after purchasing an additional 63 shares during the last quarter. Burke & Herbert Bank & Trust Co. grew its holdings in Alphabet by 4.4% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 9,064 shares of the information services provider’s stock worth $1,608,000 after purchasing an additional 380 shares during the last quarter. Finally, Mason & Associates Inc grew its holdings in Alphabet by 1.2% in the second quarter. Mason & Associates Inc now owns 9,512 shares of the information services provider’s stock worth $1,687,000 after purchasing an additional 112 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. TD Cowen lifted their price target on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Pivotal Research lifted their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, DA Davidson set a $825.00 price target on shares of Alphabet in a report on Monday. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.45.

Alphabet Price Performance

Shares of GOOG opened at $269.93 on Tuesday. The firm has a market capitalization of $3.26 trillion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.76 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 Inc. has a 1-year low of $142.66 and a 1-year high of $270.80. The company’s fifty day moving average price is $238.65 and its 200-day moving average price is $197.67.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by corporate insiders.

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.