Mutual Advisors LLC Sells 7,143 Shares of Alphabet Inc. $GOOGL

Key Points

• Mutual Advisors LLC reduced its stake in Alphabet Inc. by 5.3%, selling 7,143 shares and now holding a total of 127,376 shares valued at approximately $24.6 million.
• Alphabet recently reported a quarterly earnings per share of $2.31, exceeding analysts' projections, with revenue of $96.43 billion compared to the expected $93.60 billion.
• Insider trading activity revealed CEO Sundar Pichai sold 32,500 shares at an average price of $250.15, marking a decrease in his holdings by 1.35%.

Mutual Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,376 shares of the information services provider's stock after selling 7,143 shares during the period. Alphabet comprises about 0.6% of Mutual Advisors LLC's portfolio, making the stock its 24th biggest position. Mutual Advisors LLC's holdings in Alphabet were worth $24,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter worth about $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC lifted its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock worth $44,000 after buying an additional 67 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Up 2.7%

GOOGL stock opened at $259.92 on Friday. The stock's 50 day simple moving average is $236.72 and its 200 day simple moving average is $195.60. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $261.68. 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 company has a market cap of $3.14 trillion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. 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 the consensus estimate of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Moffett Nathanson lifted their target price on Alphabet from $230.00 to $295.00 and gave the stock a "buy" rating in a report on Thursday, September 25th. Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. HSBC assumed coverage on Alphabet in a research note on Tuesday, October 7th. They issued a "buy" rating and a $285.00 price objective on the stock. Cantor Fitzgerald boosted their price objective on Alphabet from $201.00 to $265.00 and gave the company a "neutral" rating in a research note on Monday, October 13th. Finally, Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $263.55.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's 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 sale, the director directly 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 sold 246,150 shares of company stock worth $55,805,379. Company insiders own 11.64% of the company's stock.

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.

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