Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Tobam

Tobam decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,801 shares of the information services provider’s stock after selling 2,032 shares during the quarter. Tobam’s holdings in Alphabet were worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% in the second 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 last quarter. Tributary Capital Management LLC acquired a new position in Alphabet in the first quarter valued at about $30,000. Kings Path Partners LLC acquired a new position in Alphabet in the second 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. lifted its position in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 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 commented on the stock. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. UBS Group boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target on the stock. Mizuho boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction 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 transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction 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 transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 in the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $163.42 on Friday. The firm’s fifty day simple moving average is $161.77 and its 200-day simple moving average is $168.06. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG 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 debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

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

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.