Bluesphere Advisors LLC Sells 16 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bluesphere Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.6% during the second quarter, Holdings Channel reports. The firm owned 169 shares of the information services provider’s stock after selling 16 shares during the quarter. Bluesphere Advisors LLC’s holdings in Alphabet were worth $424,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOG. Noked Israel Ltd lifted its stake in shares of Alphabet by 51.0% in the 1st quarter. Noked Israel Ltd now owns 1,540 shares of the information services provider’s stock valued at $3,186,000 after purchasing an additional 520 shares during the period. Ironwood Wealth Management LLC. raised its stake in Alphabet by 13.9% during the 1st quarter. Ironwood Wealth Management LLC. now owns 834 shares of the information services provider’s stock worth $1,725,000 after buying an additional 102 shares during the period. First National Trust Co raised its stake in Alphabet by 3.3% during the 1st quarter. First National Trust Co now owns 567 shares of the information services provider’s stock worth $1,173,000 after buying an additional 18 shares during the period. Harvest Investment Services LLC raised its stake in Alphabet by 2.4% during the 1st quarter. Harvest Investment Services LLC now owns 213 shares of the information services provider’s stock worth $440,000 after buying an additional 5 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. raised its stake in Alphabet by 0.7% during the 1st quarter. Baltimore Washington Financial Advisors Inc. now owns 9,672 shares of the information services provider’s stock worth $20,008,000 after buying an additional 67 shares during the period. 31.55% of the stock is currently owned by institutional investors.

NASDAQ GOOG traded down $58.20 on Friday, hitting $2,829.27. 3,001,991 shares of the stock traded hands, compared to its average volume of 1,318,814. The business’s fifty day moving average is $2,778.10 and its two-hundred day moving average is $2,478.93. Alphabet Inc. has a 12 month low of $1,406.55 and a 12 month high of $2,936.41. The firm has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 30.67, 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 data on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, beating the consensus estimate of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The business had revenue of $61.88 billion during the quarter, compared to analyst estimates of $56.08 billion. During the same period in the prior year, the company earned $10.13 earnings per share. Alphabet’s revenue was up 61.6% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 101.86 EPS for the current fiscal year.

In other news, CEO Sundar Pichai sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 15th. The stock was sold at an average price of $2,863.38, for a total value of $8,590,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sergey Brin sold 13,889 shares of the firm’s stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $2,876.30, for a total value of $39,948,930.70. The disclosure for this sale can be found here. Insiders sold 464,489 shares of company stock valued at $334,390,376 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

A number of research analysts recently weighed in on GOOG shares. Credit Suisse Group upped their price target on Alphabet from $2,755.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Friday, July 23rd. Susquehanna upped their price target on Alphabet from $3,100.00 to $3,600.00 and gave the stock a “positive” rating in a research note on Wednesday, July 28th. Mizuho increased their price objective on Alphabet from $2,800.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Canaccord Genuity increased their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Finally, Piper Sandler increased their price objective on Alphabet from $2,635.00 to $3,034.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $3,087.17.

About Alphabet

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.

Further Reading: Hold Rating

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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