Alphabet Inc. (NASDAQ:GOOG) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 3rd quarter, Holdings Channel reports. The fund owned 1,090,979 shares of the information services provider’s stock after selling 24,421 shares during the quarter. Alphabet makes up about 1.8% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 7th largest position. IFM Investors Pty Ltd’s holdings in Alphabet were worth $182,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Abich Financial Wealth Management LLC raised 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 acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP acquired a new position in Alphabet in the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP purchased a new position in Alphabet during the second quarter worth approximately $44,000. Finally, Hoese & Co LLP boosted its position in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Alphabet Price Performance

NASDAQ:GOOG opened at $166.99 on Friday. The stock has a 50 day moving average price of $163.31 and a 200 day moving average price of $169.88. The stock has a market cap of $2.06 trillion, a PE ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate 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 previous year, the firm earned $1.44 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Rosenblatt Securities cut 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. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. UBS Group dropped their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Pivotal Research started coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.