Galvin Gaustad & Stein LLC Sells 3,569 Shares of Alphabet Inc. $GOOGL

Key Points

• Galvin Gaustad & Stein LLC reduced its stake in Alphabet Inc. by 6.6%, selling 3,569 shares during the second quarter, leaving them with 50,754 shares valued at approximately $8.94 million.
• Alphabet reported $2.31 earnings per share (EPS) for the most recent quarter, exceeding analyst expectations of $2.15 and achieving a net margin of 31.12%.
• Several analysts have recently increased their price targets for Alphabet shares, with a consensus rating of "Moderate Buy" and a target price of about $252.24.

Galvin Gaustad & Stein LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,754 shares of the information services provider's stock after selling 3,569 shares during the quarter. Galvin Gaustad & Stein LLC's holdings in Alphabet were worth $8,944,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Vanguard Group Inc. increased its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. grew its position in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after buying an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL opened at $253.30 on Monday. The stock has a market cap of $3.06 trillion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.71 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 fifty-two week low of $140.53 and a fifty-two week high of $256.96. The firm's 50-day simple moving average is $231.55 and its two-hundred day simple moving average is $192.14.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOGL shares. Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Susquehanna raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Melius Research lifted their price objective on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.24.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction 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 sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.55% 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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