CVA Family Office LLC Trims Stock Position in Alphabet Inc. $GOOG

CVA Family Office LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,508 shares of the information services provider’s stock after selling 257 shares during the period. CVA Family Office LLC’s holdings in Alphabet were worth $445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC raised its stake in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. Nuveen LLC purchased a new stake in Alphabet during the 1st quarter valued at approximately $2,622,943,000. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Alphabet during the 1st quarter worth approximately $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction 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 transaction, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents 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 quarter. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Jefferies Financial Group increased their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.45.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $269.93 on Tuesday. The business’s fifty day moving average price is $238.65 and its two-hundred day moving average price is $197.67. The stock has a market cap of $3.26 trillion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $270.80.

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.