Gruss & Co. LLC Sells 3,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gruss & Co. LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 54.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,500 shares of the information services provider’s stock after selling 3,000 shares during the quarter. Alphabet accounts for approximately 3.3% of Gruss & Co. LLC’s holdings, making the stock its 11th biggest holding. Gruss & Co. LLC’s holdings in Alphabet were worth $415,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new position in Alphabet in the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup boosted their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Argus increased their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Bank of America lifted their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Evercore ISI decreased their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $206.00 target price on shares of Alphabet in a research note on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Trading Up 1.6 %

NASDAQ:GOOGL opened at $165.27 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s 50-day simple moving average is $161.95 and its 200-day simple moving average is $168.51. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.03 trillion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Company 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.