Oppenheimer Asset Management Inc. Sells 18,929 Shares of Alphabet Inc. $GOOGL

Oppenheimer Asset Management Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 390,283 shares of the information services provider’s stock after selling 18,929 shares during the quarter. Alphabet comprises about 0.8% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 20th biggest holding. Oppenheimer Asset Management Inc.’s holdings in Alphabet were worth $68,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Brighton Jones LLC raised its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the period. Latitude Advisors LLC raised its holdings in shares of Alphabet by 15.3% during the first quarter. Latitude Advisors LLC now owns 5,652 shares of the information services provider’s stock valued at $874,000 after purchasing an additional 752 shares during the last quarter. Clune & Associates LTD. raised its holdings in shares of Alphabet by 38.7% during the first quarter. Clune & Associates LTD. now owns 3,234 shares of the information services provider’s stock valued at $500,000 after purchasing an additional 902 shares during the last quarter. Finally, Chaney Capital Management Inc. boosted its holdings in Alphabet by 1.3% in the first quarter. Chaney Capital Management Inc. now owns 42,602 shares of the information services provider’s stock worth $6,588,000 after purchasing an additional 560 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BNP Paribas Exane boosted their target price on shares of Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research note on Monday. JMP Securities reiterated a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research report on Wednesday, October 22nd. Rosenblatt Securities raised their target price on Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.10.

Alphabet Price Performance

NASDAQ GOOGL opened at $284.75 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The stock has a market cap of $3.44 trillion, a price-to-earnings ratio of 28.08, a PEG ratio of 1.86 and a beta of 1.05. The company’s 50 day moving average is $249.91 and its two-hundred day moving average is $203.28.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 189,896 shares of company stock valued at $44,892,175. 11.64% of the stock is currently owned by corporate insiders.

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.