Atria Investments Inc Cuts Stock Holdings in Alphabet Inc. $GOOG

by · The Markets Daily

Atria Investments Inc trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,324 shares of the information services provider’s stock after selling 13,126 shares during the period. Atria Investments Inc’s holdings in Alphabet were worth $39,793,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the period. Nuveen LLC purchased a new stake in Alphabet during the first quarter valued at about $2,622,943,000. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. boosted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Strs Ohio purchased a new stake in Alphabet during the first quarter valued at about $369,713,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a research note on Thursday. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Morgan Stanley upped their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Check Out Our Latest Stock Report on Alphabet

Alphabet Price Performance

GOOG stock opened at $281.82 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The company has a market cap of $3.41 trillion, a P/E ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00. The firm has a 50-day moving average of $244.59 and a 200 day moving average of $200.68. 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 – Get Free Report) last released its quarterly earnings results 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 company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the prior year, the firm earned $2.12 earnings per share. Alphabet’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Profile

(Free Report)

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.

See Also