Alphabet Inc. $GOOG Holdings Decreased by Tweedy Browne Co LLC

Key Points

• Tweedy Browne Co LLC reduced its stake in Alphabet Inc. by 7.9% during Q2, now holding 13,153 shares valued at approximately $2.33 million.
• Several other institutional investors have increased their positions in Alphabet during the same quarter, indicating a mixed investor sentiment with 27.26% of the stock currently owned by institutions.
• Wall Street analysts have raised their price targets for Alphabet, with a consensus rating of "Moderate Buy" and an average price target of $246.26, reflecting optimistic growth forecasts.

Tweedy Browne Co LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,153 shares of the information services provider's stock after selling 1,125 shares during the quarter. Tweedy Browne Co LLC's holdings in Alphabet were worth $2,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. ACT Advisors LLC. raised its position in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after acquiring an additional 55 shares in the last quarter. LongView Wealth Management raised its position in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after acquiring an additional 56 shares in the last quarter. Kooman & Associates raised its position in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after acquiring an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC raised its position in Alphabet by 3.4% in the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock worth $309,000 after acquiring an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC raised its position in Alphabet by 2.7% in the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock worth $389,000 after acquiring an additional 58 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Morgan Stanley lifted their price target on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Pivotal Research lifted their price target on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $246.26.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 1.3%

NASDAQ:GOOG opened at $257.02 on Tuesday. 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 Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. The stock's 50-day moving average is $233.29 and its two-hundred day moving average is $194.01. The stock has a market cap of $3.11 trillion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The business's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.