Franklin Street Advisors Inc. NC Sells 864 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Franklin Street Advisors Inc. NC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,767 shares of the information services provider’s stock after selling 864 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Alphabet were worth $5,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BCS Wealth Management grew its holdings in Alphabet by 13.5% during the 1st quarter. BCS Wealth Management now owns 2,892 shares of the information services provider’s stock valued at $436,000 after buying an additional 344 shares in the last quarter. Apella Capital LLC boosted its holdings in shares of Alphabet by 9.0% in the 1st quarter. Apella Capital LLC now owns 7,247 shares of the information services provider’s stock worth $1,135,000 after purchasing an additional 599 shares during the period. McLean Asset Management Corp boosted its holdings in shares of Alphabet by 1.1% in the 1st quarter. McLean Asset Management Corp now owns 8,395 shares of the information services provider’s stock worth $1,315,000 after purchasing an additional 90 shares during the period. M. Kraus & Co boosted its holdings in shares of Alphabet by 1.1% in the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in shares of Alphabet by 3.9% in the 1st quarter. Park Avenue Securities LLC now owns 190,234 shares of the information services provider’s stock worth $28,712,000 after purchasing an additional 7,148 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

Shares of GOOGL stock opened at $163.42 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The stock’s fifty day moving average price is $161.77 and its 200 day moving average price is $168.16. 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 company has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the business earned $1.44 EPS. On average, research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GOOGL shares. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Mizuho boosted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group boosted their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 in the last ninety days. 11.55% of the stock is owned by insiders.

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.