Reston Wealth Management LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOG) by 19.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 491 shares of the information services provider’s stock after selling 120 shares during the quarter. Alphabet makes up about 0.5% of Reston Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. Reston Wealth Management LLC’s holdings in Alphabet were worth $722,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its stake in Alphabet by 0.4% during the second quarter. BlackRock Inc. now owns 20,335,553 shares of the information services provider’s stock worth $28,746,541,000 after buying an additional 71,328 shares during the last quarter. State Street Corp grew its stake in Alphabet by 0.8% during the first quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock worth $13,737,468,000 after buying an additional 98,084 shares during the last quarter. Capital International Investors grew its stake in shares of Alphabet by 5.0% during the first quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock valued at $5,297,617,000 after purchasing an additional 218,823 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 10.1% during the second quarter. Bank of New York Mellon Corp now owns 3,723,037 shares of the information services provider’s stock valued at $5,262,923,000 after purchasing an additional 340,937 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Alphabet by 1.1% during the second quarter. Swiss National Bank now owns 1,213,596 shares of the information services provider’s stock valued at $1,715,551,000 after purchasing an additional 13,600 shares during the last quarter. 32.42% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on the stock. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. UBS Group reaffirmed a “buy” rating and issued a $1,970.00 price objective (up from $1,600.00) on shares of Alphabet in a research note on Tuesday, August 25th. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Oppenheimer raised their price objective on shares of Alphabet from $1,445.00 to $1,685.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, KeyCorp began coverage on shares of Alphabet in a research note on Monday, September 14th. They issued an “overweight” rating on the stock. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,703.33.

In related news, Director Ann Mather sold 22 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total value of $32,653.94. Following the completion of the transaction, the director now owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the completion of the transaction, the director now directly owns 517 shares of the company’s stock, valued at approximately $795,295.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142 shares of company stock valued at $213,357. 12.99% of the stock is owned by insiders.

Shares of NASDAQ:GOOG opened at $1,573.01 on Friday. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,733.18. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $1,525.61 and its 200 day simple moving average is $1,436.75. The firm has a market cap of $1,069.90 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.16 and a beta of 1.10.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The business had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Research analysts expect that Alphabet Inc will post 44.84 earnings per share for the current fiscal year.

Alphabet Company Profile

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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