American Financial Advisors LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

American Financial Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.6% in the third quarter, HoldingsChannel reports. The firm owned 3,097 shares of the information services provider’s stock after selling 327 shares during the period. American Financial Advisors LLC’s holdings in Alphabet were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GOOG. Capital International Investors lifted its holdings in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares in the last quarter. Capital World Investors raised its stake in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the last quarter. Capital Research Global Investors boosted its holdings in Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $176.14 on Thursday. The stock has a market cap of $2.18 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a fifty day moving average price of $163.56 and a 200 day moving average price of $170.30. Alphabet Inc. has a 1 year low of $123.93 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the company posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Jefferies Financial Group raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.