Alphabet Inc. $GOOG is Cabot Wealth Management Inc.’s 10th Largest Position

Cabot Wealth Management Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the second quarter, Holdings Channel reports. The firm owned 122,875 shares of the information services provider’s stock after buying an additional 583 shares during the period. Alphabet accounts for 2.6% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 10th largest holding. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $21,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC raised its stake in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after purchasing an additional 1,899 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Alphabet by 6.2% during the 1st quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock worth $1,587,000 after purchasing an additional 594 shares in the last quarter. Guardian Asset Advisors LLC increased its holdings in shares of Alphabet by 7.5% during the 1st quarter. Guardian Asset Advisors LLC now owns 14,525 shares of the information services provider’s stock valued at $2,272,000 after acquiring an additional 1,009 shares during the last quarter. Finally, Westfuller Advisors LLC raised its stake in shares of Alphabet by 50.2% in the 1st quarter. Westfuller Advisors LLC now owns 4,303 shares of the information services provider’s stock valued at $672,000 after acquiring an additional 1,439 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOG. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $280.45.

Alphabet Stock Performance

GOOG opened at $269.93 on Tuesday. The firm has a market capitalization of $3.26 trillion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. The stock’s 50 day moving average price is $238.65 and its two-hundred day moving average price is $197.67. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $270.80.

About Alphabet

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.