Alphabet Inc. (NASDAQ:GOOGL) Position Lowered by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,275 shares of the information services provider’s stock after selling 500 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in Alphabet were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. StoneCrest Wealth Management Inc. raised its holdings in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Sovereign Financial Group Inc. grew its position in shares of Alphabet by 0.6% during the 3rd quarter. Sovereign Financial Group Inc. now owns 37,215 shares of the information services provider’s stock valued at $6,172,000 after buying an additional 205 shares during the last quarter. Strategic Wealth Partners Ltd. raised its stake in Alphabet by 9.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 81,302 shares of the information services provider’s stock worth $13,484,000 after acquiring an additional 7,247 shares during the period. Rockingstone Advisors LLC lifted its holdings in Alphabet by 1.2% in the third quarter. Rockingstone Advisors LLC now owns 27,126 shares of the information services provider’s stock worth $4,499,000 after acquiring an additional 323 shares during the last quarter. Finally, Marquette Asset Management LLC boosted its stake in Alphabet by 24.9% in the third quarter. Marquette Asset Management LLC now owns 7,420 shares of the information services provider’s stock valued at $1,231,000 after acquiring an additional 1,480 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $162.93 on Friday. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $161.77 and a 200 day simple moving average of $168.01.

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

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on GOOGL shares. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Mizuho boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Argus upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Piper Sandler reiterated an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Finally, Citigroup upped their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Eight 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

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.