One Wealth Advisors LLC Sells 2,498 Shares of Alphabet Inc. (NASDAQ:GOOG)

One Wealth Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,496 shares of the information services provider's stock after selling 2,498 shares during the period. One Wealth Advisors LLC's holdings in Alphabet were worth $5,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lifeworks Advisors LLC increased its stake in shares of Alphabet by 9.2% during the first quarter. Lifeworks Advisors LLC now owns 1,578 shares of the information services provider's stock worth $247,000 after acquiring an additional 133 shares during the period. Innova Wealth Partners acquired a new position in shares of Alphabet during the first quarter worth about $244,000. Journey Strategic Wealth LLC increased its stake in shares of Alphabet by 11.0% during the first quarter. Journey Strategic Wealth LLC now owns 28,973 shares of the information services provider's stock worth $4,527,000 after acquiring an additional 2,867 shares during the period. SFE Investment Counsel grew its position in Alphabet by 21.0% during the first quarter. SFE Investment Counsel now owns 41,756 shares of the information services provider's stock worth $6,524,000 after buying an additional 7,246 shares during the period. Finally, Carnegie Investment Counsel grew its position in Alphabet by 7.3% during the first quarter. Carnegie Investment Counsel now owns 247,575 shares of the information services provider's stock worth $37,095,000 after buying an additional 16,871 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Oppenheimer reissued an "outperform" rating and set a $235.00 price objective (up from $220.00) on shares of Alphabet in a research note on Thursday. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Raymond James Financial restated an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Stock Up 0.9%

Shares of NASDAQ:GOOG traded up $1.69 during midday trading on Thursday, hitting $193.20. 45,163,229 shares of the company's stock traded hands, compared to its average volume of 26,053,214. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $2.34 trillion, a PE ratio of 20.58, a P/E/G ratio of 1.33 and a beta of 1.01. The firm's fifty day moving average price is $176.33 and its two-hundred day moving average price is $174.69. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 35.22%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the business posted $1.89 EPS. The company's quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 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.