Miller Financial Services LLC Sells 4,115 Shares of Alphabet Inc. (NASDAQ:GOOG)

Miller Financial Services LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 52.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,750 shares of the information services provider's stock after selling 4,115 shares during the period. Miller Financial Services LLC's holdings in Alphabet were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC increased its holdings in shares of Alphabet by 1.2% in the 1st quarter. Millstone Evans Group LLC now owns 12,896 shares of the information services provider's stock worth $2,015,000 after buying an additional 150 shares during the last quarter. West Wealth Group LLC increased its holdings in shares of Alphabet by 23.2% in the 1st quarter. West Wealth Group LLC now owns 1,928 shares of the information services provider's stock worth $306,000 after buying an additional 363 shares during the last quarter. Summit Wealth & Retirement Planning Inc. increased its holdings in shares of Alphabet by 13.2% in the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 6,165 shares of the information services provider's stock worth $963,000 after buying an additional 721 shares during the last quarter. RD Lewis Holdings Inc. increased its holdings in shares of Alphabet by 2.4% in the 1st quarter. RD Lewis Holdings Inc. now owns 12,514 shares of the information services provider's stock worth $2,075,000 after buying an additional 293 shares during the last quarter. Finally, Chancellor Financial Group WB LP increased its holdings in shares of Alphabet by 0.8% in the 1st quarter. Chancellor Financial Group WB LP now owns 10,478 shares of the information services provider's stock worth $1,637,000 after buying an additional 85 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated 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 completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Raymond James Financial set a $185.00 price target on shares of Alphabet in a report on Tuesday. Scotiabank increased their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $212.69.

Alphabet Trading Up 0.6%

Shares of NASDAQ:GOOG traded up $1.23 on Thursday, hitting $192.74. The company had a trading volume of 30,813,289 shares, compared to its average volume of 24,129,479. The firm's 50-day simple moving average is $175.77 and its two-hundred day simple moving average is $174.72. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the company posted $1.89 EPS. Alphabet's revenue was up 13.8% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

About Alphabet

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.