Alphabet Inc. $GOOGL Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Alphabet Inc. by 52.2% during the second quarter, now holding 134,321 shares valued at approximately $23.8 million.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, surpassing analysts' expectations by $0.16 and generating $96.43 billion in revenue.
• Insider sales included CEO Sundar Pichai selling 32,500 shares at an average price of $249.50, reducing his ownership by 1.34%.

Atria Wealth Solutions Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 52.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,321 shares of the information services provider's stock after selling 146,554 shares during the quarter. Alphabet comprises about 0.5% of Atria Wealth Solutions Inc.'s investment portfolio, making the stock its 27th largest holding. Atria Wealth Solutions Inc.'s holdings in Alphabet were worth $23,775,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in Alphabet during the first quarter worth approximately $28,000. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL opened at $259.92 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $261.68. The company has a 50-day moving average of $236.72 and a two-hundred day moving average of $195.25. The stock has a market cap of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.71 and a beta of 1.00. 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:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on 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 $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GOOGL shares. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Barclays boosted their price target on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Sanford C. Bernstein raised their price objective on shares of Alphabet from $210.00 to $260.00 and gave the company a "market perform" rating in a research report on Wednesday. Tigress Financial lifted their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Friday, September 5th. Finally, BNP Paribas Exane boosted their target price on shares of Alphabet from $187.00 to $247.00 and gave the stock a "neutral" rating in a report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $263.20.

Alphabet Company 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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