Wealthstream Advisors Inc. Sells 1,552 Shares of Alphabet Inc. $GOOG

Key Points

• Wealthstream Advisors Inc. reduced its stake in Alphabet Inc. by 13.0% in the second quarter, selling 1,552 shares and holding 10,364 shares worth approximately $1.84 million at the quarter's end.
• Insider John Kent Walker sold 17,816 shares of Alphabet stock for a total of $4.41 million, resulting in a 29.30% decrease in his position, while insiders collectively sold 246,150 shares worth about $55.8 million in the last quarter.
• The latest earnings report for Alphabet shows $96.43 billion in revenue for the quarter, exceeding analyst estimates by $2.76 billion, marking a year-over-year revenue increase of 13.8% and an EPS of $2.31.

Wealthstream Advisors Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,364 shares of the information services provider's stock after selling 1,552 shares during the quarter. Wealthstream Advisors Inc.'s holdings in Alphabet were worth $1,839,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GOOG. Brighton Jones LLC grew its holdings in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC increased its position in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock valued at $572,000 after purchasing an additional 1,899 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Alphabet by 19.5% during the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock valued at $14,323,000 after purchasing an additional 14,931 shares during the last quarter. Spinnaker Investment Group LLC increased its position in shares of Alphabet by 14.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 2,588 shares of the information services provider's stock valued at $404,000 after purchasing an additional 329 shares during the last quarter. Finally, Brown Lisle Cummings Inc. increased its position in shares of Alphabet by 14.7% during the 1st quarter. Brown Lisle Cummings Inc. now owns 31,634 shares of the information services provider's stock valued at $4,942,000 after purchasing an additional 4,062 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 2.2%

Shares of GOOG opened at $251.34 on Wednesday. The business has a 50-day moving average of $234.23 and a 200 day moving average of $194.41. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. The firm has a market cap of $3.04 trillion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $93.67 billion. During the same quarter last year, the firm posted $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, October 8th. Oppenheimer set a $300.00 target price on Alphabet and gave the company an "outperform" rating in a research report on Monday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $246.26.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.