Proficio Capital Partners LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Proficio Capital Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 78,262 shares of the information services provider's stock after selling 4,428 shares during the period. Alphabet accounts for approximately 1.0% of Proficio Capital Partners LLC's portfolio, making the stock its 23rd largest position. Proficio Capital Partners LLC's holdings in Alphabet were worth $12,374,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOG. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in Alphabet by 4.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after purchasing an additional 20,855 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Alphabet in the 4th quarter worth about $719,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet during the 4th quarter worth $39,000. Finally, Clune & Associates LTD. bought a new stake in Alphabet in the fourth quarter worth about $784,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, 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 transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.3%

GOOG stock traded up $0.51 during midday trading on Friday, hitting $193.71. The company had a trading volume of 20,235,780 shares, compared to its average volume of 24,208,018. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The stock has a market cap of $2.35 trillion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.33 and a beta of 1.01. The stock's 50 day moving average price is $176.33 and its 200 day moving average price is $174.69.

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

Analysts Set New Price Targets

GOOG has been the subject of a number of recent research reports. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $235.00 price target (up from $220.00) on shares of Alphabet in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

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.