Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 4,256 Shares of Alphabet Inc. $GOOG

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,618 shares of the information services provider’s stock after selling 4,256 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Alphabet were worth $32,749,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. ACT Advisors LLC. lifted its holdings in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the period. LongView Wealth Management boosted its position in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after buying an additional 56 shares in the last quarter. Kooman & Associates grew its stake in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the last quarter. Greenup Street Wealth Management LLC increased its holdings in shares of Alphabet by 0.5% during the second quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock worth $2,068,000 after buying an additional 56 shares in the last quarter. Finally, Colton Groome Financial Advisors LLC raised its stake in shares of Alphabet by 3.4% in the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Morgan Stanley lifted their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Six 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $249.68.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $260.51 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $262.51. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.76 and a beta of 1.00. The business has a 50-day moving average price of $237.33 and a two-hundred day moving average price of $196.66.

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

Alphabet Company 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.