S Bank Fund Management Ltd Trims Stake in Alphabet Inc. $GOOG

Key Points

• S Bank Fund Management Ltd reduced its stake in Alphabet Inc. by 6.2%, selling 2,973 shares during the second quarter, which now constitutes 1.2% of its portfolio.
• Several hedge funds significantly increased their positions in Alphabet, with IFS Advisors LLC boosting its holdings by 400% during the same period.
• Despite insider sales amounting to over $55 million in the last ninety days, Alphabet continues to receive favorable ratings from analysts with an average target price of $244.68.

S Bank Fund Management Ltd reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 45,127 shares of the information services provider's stock after selling 2,973 shares during the period. Alphabet comprises 1.2% of S Bank Fund Management Ltd's portfolio, making the stock its 19th biggest position. S Bank Fund Management Ltd's holdings in Alphabet were worth $8,005,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after acquiring an additional 120 shares during the period. Robbins Farley boosted its holdings in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC grew its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after purchasing an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the 1st quarter worth $26,000. Finally, Fairman Group LLC increased its holdings in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after purchasing an additional 97 shares during the period. Institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,372 shares of company stock valued at $55,110,740. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.8%

Shares of NASDAQ GOOG opened at $253.79 on Monday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.58. The business has a fifty day moving average price of $232.18 and a 200 day moving average price of $193.25. The stock has a market capitalization of $3.07 trillion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. 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 $93.67 billion. During the same quarter in the previous year, the business posted $1.89 EPS. Alphabet's revenue was up 13.8% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. Raymond James Financial reiterated an "outperform" rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, UBS Group set a $255.00 price target on shares of Alphabet and gave the company a "neutral" rating in a report on Thursday, October 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $244.68.

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.

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