Quotient Wealth Partners LLC Reduces Holdings in Alphabet Inc. $GOOG

Quotient Wealth Partners LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,685 shares of the information services provider’s stock after selling 551 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Alphabet were worth $2,960,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GOOG. Manchester Financial Inc. boosted its stake in shares of Alphabet by 59.9% during the second quarter. Manchester Financial Inc. now owns 6,332 shares of the information services provider’s stock worth $1,123,000 after buying an additional 2,372 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of Alphabet by 2.8% during the second quarter. Koshinski Asset Management Inc. now owns 30,551 shares of the information services provider’s stock worth $5,419,000 after buying an additional 843 shares during the period. Bell & Brown Wealth Advisors LLC boosted its stake in shares of Alphabet by 2.4% during the second quarter. Bell & Brown Wealth Advisors LLC now owns 4,348 shares of the information services provider’s stock worth $762,000 after buying an additional 101 shares during the period. Foster & Motley Inc. boosted its stake in shares of Alphabet by 3.5% during the second quarter. Foster & Motley Inc. now owns 121,216 shares of the information services provider’s stock worth $21,502,000 after buying an additional 4,151 shares during the period. Finally, Huntleigh Advisors Inc. boosted its stake in shares of Alphabet by 27.8% during the second quarter. Huntleigh Advisors Inc. now owns 43,365 shares of the information services provider’s stock worth $7,692,000 after buying an additional 9,426 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $257.02 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.11 trillion, a P/E ratio of 27.37, a PEG ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.88. The company has a 50-day moving average price of $233.29 and a 200 day moving average price of $194.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. KeyCorp set a $265.00 target price on shares of Alphabet in a research note on Wednesday, September 3rd. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Robert W. Baird increased their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $246.26.

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.