Strategic Blueprint LLC Decreases Stake in Alphabet Inc. $GOOG

Key Points

• Strategic Blueprint LLC has reduced its stake in Alphabet Inc. by 12.7% during the second quarter, now holding 12,879 shares valued at approximately $2.28 million.
• Several institutional investors are increasing their positions in Alphabet, with notable changes including a 400% boost from IFS Advisors LLC, which now holds 150 shares worth around $27,000.
• Alphabet has received positive attention from analysts, with new target price upgrades, including Pivotal Research raising it to $300 and a consensus target price currently at $249.68.

Strategic Blueprint LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,879 shares of the information services provider's stock after selling 1,871 shares during the quarter. Strategic Blueprint LLC's holdings in Alphabet were worth $2,285,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GOOG. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $26,000. IFS Advisors LLC boosted its position in 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 purchasing an additional 120 shares in the last quarter. Robbins Farley boosted its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its position in Alphabet by 58.7% during 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. Finally, Fairman Group LLC boosted its position in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after purchasing an additional 97 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Hsbc Global Res upgraded Alphabet to a "strong-buy" rating in a research report on Tuesday, October 7th. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an "outperform" rating in a research report on Friday. TD Cowen boosted their target price on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Friday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $249.68.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the company'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 completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $260.51 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $262.51. The stock has a market cap of $3.15 trillion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. The business has a fifty day moving average of $237.33 and a 200-day moving average of $196.66. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last released 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 $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share 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.

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