United Capital Financial Advisers LLC Has $140.33 Million Position in Alphabet Inc. (NASDAQ:GOOG)

United Capital Financial Advisers LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 55,989 shares of the information services provider’s stock after selling 307 shares during the period. Alphabet accounts for 0.7% of United Capital Financial Advisers LLC’s portfolio, making the stock its 23rd biggest position. United Capital Financial Advisers LLC’s holdings in Alphabet were worth $140,327,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tandem Investment Advisors Inc. increased its stake in shares of Alphabet by 2.9% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 140 shares of the information services provider’s stock worth $351,000 after purchasing an additional 4 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of Alphabet by 0.3% in the 2nd quarter. Resonant Capital Advisors LLC now owns 1,385 shares of the information services provider’s stock valued at $3,471,000 after purchasing an additional 4 shares during the last quarter. Well Done LLC boosted its holdings in shares of Alphabet by 2.2% in the 2nd quarter. Well Done LLC now owns 188 shares of the information services provider’s stock valued at $471,000 after purchasing an additional 4 shares during the last quarter. Mattern Wealth Management LLC boosted its holdings in shares of Alphabet by 3.9% in the 2nd quarter. Mattern Wealth Management LLC now owns 106 shares of the information services provider’s stock valued at $280,000 after purchasing an additional 4 shares during the last quarter. Finally, Wade Financial Advisory Inc boosted its holdings in shares of Alphabet by 1.5% in the 2nd quarter. Wade Financial Advisory Inc now owns 273 shares of the information services provider’s stock valued at $684,000 after purchasing an additional 4 shares during the last quarter. Institutional investors and hedge funds own 31.55% of the company’s stock.

In other Alphabet news, CAO Amie Thuener O’toole sold 48 shares of the stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $2,720.00, for a total value of $130,560.00. Following the completion of the sale, the chief accounting officer now directly owns 1,016 shares of the company’s stock, valued at approximately $2,763,520. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Capitalg 2014 Lp sold 356,152 shares of the stock in a transaction on Friday, July 30th. The shares were sold at an average price of $102.00, for a total transaction of $36,327,504.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 508,728 shares of company stock valued at $459,355,508. 12.99% of the stock is owned by insiders.

Several equities analysts recently weighed in on GOOG shares. Guggenheim lifted their target price on shares of Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $2,875.00 to $3,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $3,000.00 to $3,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Piper Sandler lifted their price target on shares of Alphabet from $2,635.00 to $3,034.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Finally, Bank of America lifted their price target on shares of Alphabet from $2,755.00 to $3,150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $3,097.60.

Shares of GOOG stock traded up $71.08 during trading hours on Thursday, reaching $2,829.08. 38,461 shares of the stock traded hands, compared to its average volume of 1,306,943. Alphabet Inc. has a 1-year low of $1,514.62 and a 1-year high of $2,936.41. The business has a fifty day moving average price of $2,807.00 and a 200 day moving average price of $2,570.43. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.89 trillion, a PE ratio of 30.63, a PEG ratio of 1.85 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $19.89 by $7.37. The company had revenue of $61.88 billion during the quarter, compared to the consensus estimate of $56.08 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The company’s revenue for the quarter was up 61.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.13 earnings per share. Research analysts expect that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Further Reading: Average Daily Trade Volume Explained

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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