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

Bogart Wealth LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,753 shares of the information services provider’s stock after selling 378 shares during the quarter. Bogart Wealth LLC’s holdings in Alphabet were worth $460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at about $37,000. HWG Holdings LP purchased a new position in Alphabet in the second quarter valued at about $40,000. Slocum Gordon & Co LLP purchased a new position in Alphabet in the second quarter valued at about $44,000. Finally, Hoese & Co LLP boosted its holdings in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of Alphabet stock opened at $166.99 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $163.31 and its 200-day simple moving average is $169.88. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

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. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on GOOG. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. Scotiabank began coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer reduced their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Finally, DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Insider Transactions at Alphabet

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