Alphabet Inc. $GOOG Shares Sold by Gables Capital Management Inc.

Key Points

• Gables Capital Management Inc. reduced its stake in Alphabet Inc. by 51.7%, holding 14,287 shares after selling 15,285 shares in the last quarter, which represents approximately 1.2% of their total holdings.
• Insider trading occurred with directors selling significant amounts of stock: Frances Arnold sold 103 shares for over $25,000, while John Kent Walker sold nearly 18,000 shares totaling about $4.4 million.
• Alphabet's recent earnings report showed a 13.8% year-over-year revenue increase of $96.43 billion, outperforming analyst expectations and reporting an EPS of $2.31.

Gables Capital Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 51.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,287 shares of the information services provider's stock after selling 15,285 shares during the quarter. Alphabet accounts for approximately 1.2% of Gables Capital Management Inc.'s holdings, making the stock its 23rd biggest position. Gables Capital Management Inc.'s holdings in Alphabet were worth $2,534,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. ACT Advisors LLC. lifted its holdings in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after purchasing an additional 55 shares during the period. 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. Greenup Street Wealth Management LLC raised its position in Alphabet by 0.5% in the second quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider's stock worth $2,068,000 after acquiring an additional 56 shares in the last quarter. Finally, 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. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 103 shares of the company's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company's stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.5%

Alphabet stock opened at $253.73 on Friday. The stock has a market cap of $3.07 trillion, a PE ratio of 27.02, a P/E/G ratio of 1.70 and a beta of 1.00. The stock has a 50-day moving average price of $236.22 and a 200 day moving average price of $195.53. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.88. 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 (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group set a $255.00 price objective on Alphabet and gave the stock a "neutral" rating in a research report on Thursday, October 9th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $246.26.

About Alphabet

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.