FRG Family Wealth Advisors LLC Cuts Stake in Alphabet Inc. $GOOG

FRG Family Wealth Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,351 shares of the information services provider’s stock after selling 144 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Alphabet were worth $772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFS Advisors LLC grew its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley grew its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its holdings in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC grew its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the first quarter worth $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOG shares. Wolfe Research lifted their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group reiterated a “neutral” rating on shares of Alphabet in a research note on Thursday. KeyCorp reiterated an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a research note on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research note on Thursday. Finally, Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned 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 a consensus target price of $324.81.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.0%

NASDAQ GOOG opened at $281.82 on Friday. The company has a market capitalization of $3.41 trillion, a PE ratio of 27.79, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a fifty day moving average of $244.59 and a 200 day moving average of $200.68. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. 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 (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.