Strategic Wealth Investment Group LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Strategic Wealth Investment Group LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,786 shares of the information services provider’s stock after selling 64 shares during the period. Strategic Wealth Investment Group LLC’s holdings in Alphabet were worth $301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the second quarter worth $37,000. HWG Holdings LP purchased a new stake in Alphabet during the second quarter valued at $40,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter valued at $44,000. Finally, Hoese & Co LLP grew its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. 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. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 in the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GOOG shares. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Pivotal Research assumed coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective for the company. Finally, UBS Group reduced their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Four equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Trading Up 1.7 %

NASDAQ GOOG opened at $171.14 on Wednesday. The stock has a market cap of $2.11 trillion, a PE ratio of 26.25, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 12 month low of $123.88 and a 12 month high of $193.31. The company’s 50-day moving average price is $163.39 and its 200-day moving average price is $170.26. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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.