Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,944 shares of the information services provider’s stock after selling 300 shares during the period. Cornerstone Wealth Management LLC’s holdings in Alphabet were worth $7,122,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC lifted its stake in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares during the last quarter. Hengehold Capital Management LLC lifted its position in shares of Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after buying an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the 2nd 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 during the period. First PREMIER Bank grew its position in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after buying an additional 61 shares during the last quarter. Finally, MKT Advisors LLC raised its stake in Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after acquiring an additional 62 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley cut their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Seven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

Shares of Alphabet stock opened at $165.27 on Friday. The stock has a market cap of $2.04 trillion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $161.90 and a 200-day simple moving average of $168.36.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for 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 in the previous year, the business posted $1.44 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. 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 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.