Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Abel Hall LLC

Abel Hall LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 23.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,689 shares of the information services provider's stock after selling 1,418 shares during the quarter. Abel Hall LLC's holdings in Alphabet were worth $733,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. FMR LLC lifted its stake in shares of Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after purchasing an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares during the last quarter. Capital International Investors increased its holdings in shares of Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after acquiring an additional 294,556 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $192.11 on Wednesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a market cap of $2.33 trillion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The business's 50 day moving average price is $174.02 and its two-hundred day moving average price is $174.50. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company's stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 over the last three months. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $209.44.

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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