Alphabet Inc. $GOOGL Shares Sold by RMR Capital Management LLC

Key Points

• RMR Capital Management LLC reduced its position in Alphabet Inc. by 12.7% in Q2, holding 16,903 shares valued at approximately $2,979,000.
• Insiders have sold a total of 246,150 shares of Alphabet stock worth about $55.8 million over the last quarter, indicating significant insider trading activity.
• Alphabet's shares opened at $259.92 and had a market cap of $3.14 trillion with a consensus rating of "Moderate Buy" and an average target price of $263.55.

RMR Capital Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,903 shares of the information services provider's stock after selling 2,460 shares during the period. Alphabet accounts for about 2.1% of RMR Capital Management LLC's portfolio, making the stock its 8th biggest holding. RMR Capital Management LLC's holdings in Alphabet were worth $2,979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred 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 transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Up 2.7%

Shares of NASDAQ:GOOGL opened at $259.92 on Friday. The business's 50 day simple moving average is $236.72 and its two-hundred day simple moving average is $195.60. The firm has a market cap of $3.14 trillion, a P/E ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $261.68.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. DA Davidson increased their price target on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. Oppenheimer increased their price target on Alphabet from $270.00 to $300.00 and gave the company an "outperform" rating in a research note on Monday, October 20th. UBS Group reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an "outperform" rating in a research note on Thursday, October 9th. Finally, Sanford C. Bernstein upped their target price on Alphabet from $210.00 to $260.00 and gave the company a "market perform" rating in a research report on Wednesday. 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's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $263.55.

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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