Buckley Wealth Management LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Buckley Wealth Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,923 shares of the information services provider’s stock after selling 200 shares during the period. Buckley Wealth Management LLC’s holdings in Alphabet were worth $1,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. OLD National Bancorp IN lifted its holdings in Alphabet by 1.9% during the third quarter. OLD National Bancorp IN now owns 39,663 shares of the information services provider’s stock valued at $6,631,000 after purchasing an additional 729 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in Alphabet by 4.2% during the third quarter. Cyndeo Wealth Partners LLC now owns 49,677 shares of the information services provider’s stock valued at $8,306,000 after purchasing an additional 1,991 shares in the last quarter. Pure Portfolios Holdings LLC purchased a new position in Alphabet during the third quarter valued at $1,856,000. Bernardo Wealth Planning LLC raised its position in shares of Alphabet by 1.2% in the third quarter. Bernardo Wealth Planning LLC now owns 9,095 shares of the information services provider’s stock valued at $1,496,000 after buying an additional 107 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management raised its position in shares of Alphabet by 8.0% in the third quarter. Werba Rubin Papier Wealth Management now owns 8,564 shares of the information services provider’s stock valued at $1,432,000 after buying an additional 631 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. UBS Group cut their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, Oppenheimer cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Price Performance

Shares of GOOG opened at $165.05 on Monday. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The stock has a market cap of $2.04 trillion, a PE ratio of 25.31, a P/E/G ratio of 1.21 and a beta of 1.04. The firm has a 50-day simple moving average of $163.18 and a two-hundred day simple moving average of $169.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % 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. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is currently owned by company 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.