BLB&B Advisors LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

BLB&B Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,017 shares of the information services provider’s stock after selling 68 shares during the quarter. BLB&B Advisors LLC’s holdings in Alphabet were worth $2,009,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. First Bancorp Inc ME boosted its position in shares of Alphabet by 1.4% in the 1st quarter. First Bancorp Inc ME now owns 5,743 shares of the information services provider’s stock valued at $874,000 after purchasing an additional 80 shares during the period. Arkfeld Wealth Strategies L.L.C. raised its position in Alphabet by 17.4% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,035 shares of the information services provider’s stock valued at $3,947,000 after purchasing an additional 3,714 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Alphabet by 23.7% during the 1st quarter. Sound Income Strategies LLC now owns 7,900 shares of the information services provider’s stock worth $1,203,000 after purchasing an additional 1,515 shares during the period. Mcdonald Partners LLC grew its position in Alphabet by 0.5% during the 1st quarter. Mcdonald Partners LLC now owns 24,672 shares of the information services provider’s stock worth $3,757,000 after purchasing an additional 130 shares during the last quarter. Finally, IAM Advisory LLC raised its holdings in shares of Alphabet by 4.2% in the first quarter. IAM Advisory LLC now owns 3,893 shares of the information services provider’s stock valued at $593,000 after buying an additional 158 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 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 sold 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.4 %

Shares of NASDAQ GOOG opened at $164.48 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $163.28 and a 200 day moving average price of $169.92. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GOOG shares. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Oppenheimer lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $186.90.

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.