Alphabet Inc. $GOOG Stock Holdings Decreased by Exencial Wealth Advisors LLC

Key Points

• Exencial Wealth Advisors LLC has reduced its position in Alphabet Inc. by 4.0%, now holding 261,071 shares valued at approximately $46.31 million.
• Several institutional investors, including IFS Advisors LLC and WestEnd Advisors LLC, significantly increased their stakes in Alphabet during the second quarter, indicating a strong interest in the stock.
• Analysts have given Alphabet a consensus rating of "Moderate Buy", with a target price averaging around $249.68, after several upgrades in recent weeks.

Exencial Wealth Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,071 shares of the information services provider's stock after selling 10,926 shares during the period. Alphabet comprises approximately 1.6% of Exencial Wealth Advisors LLC's holdings, making the stock its 7th largest position. Exencial Wealth Advisors LLC's holdings in Alphabet were worth $46,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter valued at approximately $26,000. IFS Advisors LLC grew its position in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley grew its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its position in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Fairman Group LLC grew its position in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. Pivotal Research boosted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the company an "outperform" rating in a research note on Friday. Scotiabank reiterated an "outperform" rating and issued a $310.00 target price on shares of Alphabet in a research note on Thursday, October 16th. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $249.68.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company's stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last three months. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $260.51 on Friday. The firm has a fifty day simple moving average of $237.33 and a 200-day simple moving average of $196.32. 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 1-year low of $142.66 and a 1-year high of $262.51. The stock has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.