Alphabet Inc. $GOOGL Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,672 shares of the information services provider’s stock after selling 3,514 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Alphabet were worth $12,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Invesco Ltd. grew its position in shares of Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Jefferies Financial Group upped their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. UBS Group lifted their price objective on Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Morgan Stanley set a $270.00 target price on shares of Alphabet and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, DA Davidson raised their price target on shares of Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.24.

Alphabet Stock Up 0.7%

GOOGL opened at $253.30 on Monday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.96. The business has a 50-day moving average of $231.55 and a two-hundred day moving average of $192.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last quarter. Company insiders own 11.55% of the company’s stock.

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.