Keystone Wealth Services LLC Sells 278 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Keystone Wealth Services LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,669 shares of the information services provider’s stock after selling 278 shares during the quarter. Keystone Wealth Services LLC’s holdings in Alphabet were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter worth about $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the second quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of 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 buying an additional 109 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. UBS Group boosted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective on the stock. Mizuho increased their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Bank of America increased their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

NASDAQ GOOGL opened at $162.78 on Thursday. The company has a market cap of $2.01 trillion, a P/E ratio of 24.97, a PEG ratio of 1.21 and a beta of 1.04. The company has a fifty day simple moving average of $161.87 and a 200 day simple moving average of $168.40. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm earned $1.44 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents 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 this hyperlink. 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 value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last quarter. Insiders own 11.55% of the company’s stock.

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.