Alphabet Inc (NASDAQ:GOOG) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,222 shares of the information services provider’s stock after selling 148 shares during the period. Alphabet accounts for approximately 1.7% of Welch & Forbes LLC’s investment portfolio, making the stock its 17th biggest holding. Welch & Forbes LLC’s holdings in Alphabet were worth $70,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Orrstown Financial Services Inc. acquired a new position in Alphabet during the third quarter worth approximately $26,000. HMS Capital Management LLC acquired a new position in Alphabet during the second quarter worth approximately $38,000. Thor Advisors LLC acquired a new position in Alphabet during the first quarter worth approximately $56,000. First PREMIER Bank increased its position in Alphabet by 44.4% during the third quarter. First PREMIER Bank now owns 52 shares of the information services provider’s stock worth $63,000 after buying an additional 16 shares during the period. Finally, Permanens Capital L.P. increased its position in Alphabet by 180.0% during the second quarter. Permanens Capital L.P. now owns 70 shares of the information services provider’s stock worth $76,000 after buying an additional 45 shares during the period. 33.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alphabet stock traded up $16.28 during trading on Friday, reaching $1,224.95. The company’s stock had a trading volume of 817,058 shares, compared to its average volume of 1,363,880. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27. The company has a market capitalization of $824.54 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The business has a 50 day moving average price of $1,204.96 and a 200-day moving average price of $1,171.62.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. During the same period in the previous year, the business earned $11.75 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Research analysts predict that Alphabet Inc will post 51.66 EPS for the current fiscal year.

In related news, Director John L. Hennessy sold 75 shares of Alphabet stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $1,238.57, for a total value of $92,892.75. Following the sale, the director now directly owns 276 shares in the company, valued at $341,845.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP David C. Drummond sold 1,600 shares of Alphabet stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total value of $1,944,624.00. Following the completion of the sale, the senior vice president now owns 44,482 shares in the company, valued at $54,062,977.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,391 shares of company stock worth $6,502,992. Company insiders own 12.99% of the company’s stock.

Several brokerages have weighed in on GOOG. Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 3rd. Oppenheimer lifted their target price on Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. ValuEngine downgraded Alphabet from a “hold” rating to a “sell” rating in a research note on Thursday. Credit Suisse Group lifted their target price on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Cowen lifted their target price on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,378.93.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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