Ritholtz Wealth Management Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ritholtz Wealth Management cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,304 shares of the information services provider’s stock after selling 590 shares during the quarter. Alphabet accounts for 0.6% of Ritholtz Wealth Management’s portfolio, making the stock its 24th biggest holding. Ritholtz Wealth Management’s holdings in Alphabet were worth $20,450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Alphabet in the 1st quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth $36,000. Denver PWM LLC purchased a new stake in Alphabet during the second quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Citigroup lifted their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Loop Capital restated a “hold” rating and set a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Bank of America increased their price target on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Morgan Stanley cut their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Trading Up 0.3 %

Shares of GOOGL opened at $163.42 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The stock has a market cap of $2.02 trillion, a PE ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. The stock’s 50-day moving average is $161.77 and its two-hundred day moving average is $168.25.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the business earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by company insiders.

About Alphabet

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.