Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Homestead Advisers Corp

Homestead Advisers Corp trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 370,760 shares of the information services provider's stock after selling 62,100 shares during the quarter. Homestead Advisers Corp's holdings in Alphabet were worth $57,924,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the 1st quarter valued at about $26,000. LSV Asset Management purchased a new position in Alphabet in the 4th quarter valued at about $27,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the 1st quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 0.4%

Shares of GOOG traded up $0.83 during midday trading on Friday, reaching $194.03. 18,929,009 shares of the company were exchanged, compared to its average volume of 24,199,385. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a 50-day moving average price of $176.33 and a 200-day moving average price of $174.69. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock valued at $43,523,710 over the last 90 days. 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. Barclays reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research boosted their price target on Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $215.19.

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.