Leo Wealth LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Leo Wealth LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,958 shares of the information services provider's stock after selling 8,376 shares during the quarter. Leo Wealth LLC's holdings in Alphabet were worth $3,859,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $39,000. Elite Financial Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $42,000. Anderson Financial Strategies LLC purchased a new stake in Alphabet in the 4th quarter worth about $49,000. Finally, EQ Wealth Advisors LLC purchased a new stake in Alphabet in the 1st quarter worth about $49,000. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GOOGL shares. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. BMO Capital Markets increased their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday. Needham & Company LLC increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday. Wells Fargo & Company increased their price objective on Alphabet from $177.00 to $184.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Sanford C. Bernstein increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $210.79.

Insider Activity at Alphabet

In other Alphabet 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 value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,409 shares of company stock worth $43,523,710. 11.64% of the stock is owned by company insiders.

Alphabet Trading Up 1.9%

NASDAQ:GOOGL traded up $3.70 during trading hours on Thursday, hitting $193.93. 56,671,075 shares of the company were exchanged, compared to its average volume of 36,920,125. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a fifty day simple moving average of $174.67 and a 200 day simple moving average of $173.13. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. 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 (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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.