Beverly Hills Private Wealth LLC Sells 3,548 Shares of Alphabet Inc. $GOOG

Key Points

• Beverly Hills Private Wealth LLC reduced its stake in Alphabet Inc. by 11.0%, selling 3,548 shares, and now holds 28,722 shares worth approximately $5,095,000.
• Analysts have raised their price targets for Alphabet, with Pivotal Research increasing their target from $245 to $300, and a consensus target price of $246.26 currently exists for the stock.
• Insider selling activity has been noted, with directors altering their positions, including a sale of 600 shares by John L. Hennessy valued at $145,752.00.

Beverly Hills Private Wealth LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,722 shares of the information services provider's stock after selling 3,548 shares during the period. Alphabet accounts for 1.0% of Beverly Hills Private Wealth LLC's portfolio, making the stock its 18th largest position. Beverly Hills Private Wealth LLC's holdings in Alphabet were worth $5,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in GOOG. ACT Advisors LLC. grew its stake in Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management grew its stake in Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates grew its stake in Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after buying an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC grew its stake in Alphabet by 3.4% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock worth $309,000 after buying an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC grew its stake in Alphabet by 2.7% during the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock worth $389,000 after buying an additional 58 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Pivotal Research upped their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. upped their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Oppenheimer set a $300.00 target price on Alphabet and gave the stock an "outperform" rating in a research note on Monday. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, UBS Group set a $255.00 target price on Alphabet and gave the stock a "neutral" rating in a research note on Thursday, October 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.26.

Alphabet Trading Up 0.5%

Shares of Alphabet stock opened at $252.53 on Thursday. The firm has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day moving average of $235.22 and a 200 day moving average of $194.81.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the firm earned $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 103 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares of the company's stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director owned 5,116 shares of the company's stock, valued at $1,242,778.72. This represents a 10.50% 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 valued at $55,805,379. 12.99% of the stock is owned by insiders.

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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