Wealth Advisory Solutions LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Wealth Advisory Solutions LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 6.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,955 shares of the information services provider’s stock after selling 208 shares during the period. Wealth Advisory Solutions LLC’s holdings in Alphabet were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter worth about $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter valued at approximately $40,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet during the second quarter worth approximately $44,000. Finally, Hoese & Co LLP grew its stake in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $165.80 on Tuesday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a 50 day moving average of $163.21 and a two-hundred day moving average of $169.86. The company has a market cap of $2.05 trillion, a P/E ratio of 25.43, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the company earned $1.44 EPS. The firm’s revenue was up 13.6% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. 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 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GOOG shares. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

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.