WFA of San Diego LLC Sells 680 Shares of Alphabet Inc. (NASDAQ:GOOG)

WFA of San Diego LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 22.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,400 shares of the information services provider’s stock after selling 680 shares during the period. WFA of San Diego LLC’s holdings in Alphabet were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Totem Point Management LLC raised its position in shares of Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F raised its holdings in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares in the last quarter. BCK Partners Inc. acquired a new position in Alphabet in the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. lifted its position in shares of Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. grew its holdings in shares of Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.

Alphabet Price Performance

GOOG stock traded up $0.51 during midday trading on Monday, reaching $137.45. 3,612,150 shares of the stock were exchanged, compared to its average volume of 25,843,408. The stock has a market capitalization of $1.72 trillion, a PE ratio of 26.07, a P/E/G ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01. The company has a fifty day moving average price of $134.60 and a 200 day moving average price of $128.47. Alphabet Inc. has a 52 week low of $85.57 and a 52 week high of $142.38.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The company had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. As a group, analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOG shares. Robert W. Baird upped their price objective on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Oppenheimer reissued an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Susquehanna upped their target price on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Finally, Wedbush assumed coverage on Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $130.69.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the completion of the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the transaction, the director now directly owns 4,818 shares of the company’s stock, valued at $627,014.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $132.92, for a total transaction of $26,584.00. Following the sale, the director now directly owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,576 shares of company stock worth $23,425,367. 12.99% of the stock is currently owned by insiders.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.