Optimum Investment Advisors Sells 380 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Optimum Investment Advisors lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,645 shares of the information services provider’s stock after selling 380 shares during the quarter. Optimum Investment Advisors’ holdings in Alphabet were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. DGS Capital Management LLC boosted its position in Alphabet by 32.6% during the first quarter. DGS Capital Management LLC now owns 14,379 shares of the information services provider’s stock worth $2,170,000 after purchasing an additional 3,532 shares during the period. Clarity Financial LLC lifted its stake in shares of Alphabet by 4.8% in the first quarter. Clarity Financial LLC now owns 4,956 shares of the information services provider’s stock worth $748,000 after buying an additional 227 shares during the last quarter. Ellis Investment Partners LLC lifted its stake in shares of Alphabet by 8.6% in the first quarter. Ellis Investment Partners LLC now owns 28,548 shares of the information services provider’s stock worth $4,309,000 after buying an additional 2,258 shares during the last quarter. Affiance Financial LLC boosted its holdings in shares of Alphabet by 4.5% during the 1st quarter. Affiance Financial LLC now owns 9,350 shares of the information services provider’s stock worth $1,411,000 after buying an additional 400 shares during the period. Finally, S.A. Mason LLC grew its stake in Alphabet by 1.5% in the 1st quarter. S.A. Mason LLC now owns 10,587 shares of the information services provider’s stock valued at $1,598,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BMO Capital Markets cut their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Guggenheim raised their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company cut their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Citigroup raised their price objective on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This 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. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.6 %

Shares of GOOGL opened at $165.27 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.27 and a beta of 1.04. The stock has a fifty day moving average price of $161.95 and a two-hundred day moving average price of $168.51. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet 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.