Stratos Wealth Advisors LLC Trims Stock Holdings in Alphabet Inc. $GOOG

Stratos Wealth Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,535 shares of the information services provider’s stock after selling 3,466 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Alphabet were worth $12,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RDA Financial Network grew its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares in the last quarter. Tower View Wealth Management LLC grew its stake in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares in the last quarter. Oldfather Financial Services LLC bought a new position in Alphabet in the second quarter worth approximately $213,000. Truist Financial Corp grew its stake in Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after purchasing an additional 15,065 shares in the last quarter. Finally, GC Wealth Management RIA LLC grew its stake in Alphabet by 115.7% in the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after purchasing an additional 115,003 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on 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. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,372 shares of company stock worth $55,110,740. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.8%

Alphabet stock opened at $253.79 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.58. The business has a fifty day moving average price of $232.18 and a 200-day moving average price of $193.25.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Mizuho upgraded Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $244.68.

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.