Commonwealth Equity Services LLC Has $432.81 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Commonwealth Equity Services LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,609,651 shares of the information services provider’s stock after selling 71,246 shares during the quarter. Alphabet accounts for about 0.7% of Commonwealth Equity Services LLC’s portfolio, making the stock its 18th largest holding. Commonwealth Equity Services LLC’s holdings in Alphabet were worth $432,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the second 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 Alphabet in the first quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new position in Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 59.2% during the 1st 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 period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the 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 completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This 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 can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was 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 directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research note on Monday, September 30th. Guggenheim increased their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Seven equities 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Up 1.8 %

Shares of NASDAQ:GOOGL opened at $169.68 on Wednesday. The stock’s 50-day moving average is $162.00 and its 200 day moving average is $168.74. The company has a market cap of $2.10 trillion, a PE ratio of 26.02, a P/E/G ratio of 1.27 and a beta of 1.04. 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 1 year low of $122.68 and a 1 year high of $191.75.

Alphabet Company 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.