BerganKDV Wealth Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

BerganKDV Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 931 shares of the information services provider’s stock after selling 7 shares during the period. BerganKDV Wealth Management LLC’s holdings in Alphabet were worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GOOG. Saban Cheryl purchased a new stake in Alphabet in the 2nd quarter valued at approximately $25,000. Laurel Wealth Planning LLC raised its holdings in Alphabet by 450.0% in the 2nd quarter. Laurel Wealth Planning LLC now owns 11 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 9 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new position in Alphabet in the 1st quarter valued at $31,000. Corsicana & Co. acquired a new position in Alphabet in the 2nd quarter valued at $50,000. Finally, Selective Wealth Management Inc. raised its holdings in Alphabet by 29.4% in the 2nd quarter. Selective Wealth Management Inc. now owns 22 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 5 shares during the last quarter. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP John Kent Walker sold 2,501 shares of the firm’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $2,517.43, for a total transaction of $6,296,092.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 48 shares of the firm’s stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $2,496.99, for a total transaction of $119,855.52. The disclosure for this sale can be found here. Insiders sold 461,489 shares of company stock worth $325,800,236 in the last 90 days. 12.99% of the stock is owned by company insiders.

Shares of NASDAQ:GOOG traded up $24.22 during trading hours on Wednesday, hitting $2,892.34. The stock had a trading volume of 36,473 shares, compared to its average volume of 1,313,009. The stock’s fifty day simple moving average is $2,761.21 and its 200 day simple moving average is $2,467.80. Alphabet Inc. has a 1-year low of $1,406.55 and a 1-year high of $2,936.41. The firm has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, beating the consensus estimate of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The company had revenue of $61.88 billion for the quarter, compared to analyst estimates of $56.08 billion. During the same quarter last year, the business earned $10.13 earnings per share. Alphabet’s revenue was up 61.6% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 101.86 EPS for the current year.

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price target on Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. JPMorgan Chase & Co. boosted their price target on Alphabet from $2,875.00 to $3,250.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Guggenheim boosted their price target on Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Raymond James boosted their price target on Alphabet from $2,750.00 to $3,200.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Finally, Bank of America boosted their price target on Alphabet from $2,755.00 to $3,150.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $3,087.17.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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