Alphabet Inc. $GOOGL is Naviter Wealth LLC's 10th Largest Position

Key Points

• Naviter Wealth LLC reduced its stake in Alphabet Inc. by 6.2% in the second quarter, now holding 86,247 shares worth around $15.2 million.
• Numerous hedge funds increased their holdings in Alphabet, with Brighton Jones LLC adding 3.9% to its position, now owning 110,330 shares valued at approximately $20.9 million.
• Alphabet reported $96.43 billion in revenue for the last quarter, exceeding analysts' expectations, and achieved an EPS of $2.31, beating estimates by $0.16.

Naviter Wealth LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 86,247 shares of the information services provider's stock after selling 5,675 shares during the period. Alphabet comprises approximately 1.9% of Naviter Wealth LLC's portfolio, making the stock its 10th biggest holding. Naviter Wealth LLC's holdings in Alphabet were worth $15,199,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the period. GAMMA Investing LLC lifted its holdings in Alphabet by 10.5% in the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider's stock worth $16,062,000 after buying an additional 9,900 shares during the period. Hudson Value Partners LLC grew its position in shares of Alphabet by 1.3% in the 1st quarter. Hudson Value Partners LLC now owns 74,229 shares of the information services provider's stock worth $11,479,000 after buying an additional 947 shares during the last quarter. Finally, Jericho Financial LLP increased its stake in shares of Alphabet by 5.3% during the first quarter. Jericho Financial LLP now owns 37,197 shares of the information services provider's stock valued at $5,752,000 after buying an additional 1,860 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 103 shares of the business's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 over the last three months. Corporate insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. Sanford C. Bernstein raised their price target on Alphabet from $210.00 to $260.00 and gave the stock a "market perform" rating in a research note on Wednesday. Cantor Fitzgerald upped their price objective on shares of Alphabet from $201.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. UBS Group reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday. Loop Capital boosted their price target on shares of Alphabet from $190.00 to $260.00 and gave the company a "hold" rating in a research report on Friday. Finally, Wolfe Research raised their price objective on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $263.20.

Alphabet Trading Up 2.7%

Shares of NASDAQ GOOGL opened at $259.92 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $261.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50-day moving average of $236.72 and a 200 day moving average of $195.25. The stock has a market cap of $3.14 trillion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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 $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS 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.

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