Guinness Atkinson Asset Management Inc Lowers Position in Alphabet Inc. $GOOG

Guinness Atkinson Asset Management Inc decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.3% during the second quarter, HoldingsChannel reports. The firm owned 1,536 shares of the information services provider’s stock after selling 256 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Alphabet were worth $272,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Liberty Wealth Management LLC raised its position in Alphabet by 15.1% during the second quarter. Liberty Wealth Management LLC now owns 18,243 shares of the information services provider’s stock valued at $3,236,000 after purchasing an additional 2,400 shares in the last quarter. AustralianSuper Pty Ltd raised its position in Alphabet by 0.3% during the second quarter. AustralianSuper Pty Ltd now owns 57,584 shares of the information services provider’s stock valued at $10,215,000 after purchasing an additional 164 shares in the last quarter. Teacher Retirement System of Texas raised its position in Alphabet by 10.6% during the second quarter. Teacher Retirement System of Texas now owns 933,283 shares of the information services provider’s stock valued at $165,555,000 after purchasing an additional 89,692 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its position in Alphabet by 0.7% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 251,421 shares of the information services provider’s stock valued at $44,600,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Oak Grove Capital LLC purchased a new stake in Alphabet during the second quarter valued at about $319,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 2.5%

NASDAQ GOOG opened at $275.17 on Thursday. 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 $3.33 trillion, a PE ratio of 29.30, a PEG ratio of 1.81 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $275.97. The business’s 50-day moving average is $241.46 and its 200 day moving average is $199.27.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOG. Morgan Stanley raised their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Pivotal Research raised their price objective on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Oppenheimer set a $300.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Five research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $297.56.

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.