Alphabet Inc. (NASDAQ:GOOG) Holdings Lowered by Sterling Financial Group Inc.

Sterling Financial Group Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,469 shares of the information services provider’s stock after selling 120 shares during the period. Sterling Financial Group Inc.’s holdings in Alphabet were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI lifted its stake in Alphabet by 17.2% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 46,153 shares of the information services provider’s stock worth $7,716,000 after acquiring an additional 6,782 shares in the last quarter. Meadow Creek Wealth Advisors LLC lifted its stake in Alphabet by 23.3% in the 3rd quarter. Meadow Creek Wealth Advisors LLC now owns 5,497 shares of the information services provider’s stock worth $919,000 after acquiring an additional 1,037 shares in the last quarter. Elevated Capital Advisors LLC lifted its stake in Alphabet by 2.5% in the 3rd quarter. Elevated Capital Advisors LLC now owns 16,926 shares of the information services provider’s stock worth $2,830,000 after acquiring an additional 417 shares in the last quarter. Lazari Capital Management Inc. lifted its stake in Alphabet by 10.1% in the 3rd quarter. Lazari Capital Management Inc. now owns 2,928 shares of the information services provider’s stock worth $490,000 after acquiring an additional 268 shares in the last quarter. Finally, Community Trust & Investment Co. lifted its stake in Alphabet by 0.6% in the 3rd quarter. Community Trust & Investment Co. now owns 396,587 shares of the information services provider’s stock worth $66,305,000 after acquiring an additional 2,229 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $164.48 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The business’s 50-day simple moving average is $163.28 and its 200-day simple moving average is $169.92. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

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

Insider Activity at Alphabet

In related 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 completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 in the last 90 days. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. UBS Group dropped their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. 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 company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

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.