HCR Wealth Advisors Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

HCR Wealth Advisors lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,954 shares of the information services provider’s stock after selling 802 shares during the quarter. Alphabet accounts for 2.1% of HCR Wealth Advisors’ portfolio, making the stock its 10th largest position. HCR Wealth Advisors’ holdings in Alphabet were worth $15,914,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after buying an additional 4,064,073 shares during the period. Capital Research Global Investors lifted its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the period. Capital World Investors grew its position in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Tigress Financial lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. BMO Capital Markets dropped their price objective on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Finally, Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Buying and Selling

In other Alphabet 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 value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $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 is available through the SEC website. In other news, 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 sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were 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. This trade represents a 0.00 % decrease in their position. 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 11.55% of the company’s stock.

Alphabet Stock Up 0.3 %

GOOGL stock opened at $163.42 on Monday. 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 firm has a 50-day moving average of $161.77 and a two-hundred day moving average of $168.25. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.