Alphabet Inc. $GOOG Stock Position Reduced by Horizon Wealth Management LLC

Horizon Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 57.9% during the second quarter, HoldingsChannel.com reports. The firm owned 4,209 shares of the information services provider’s stock after selling 5,784 shares during the period. Horizon Wealth Management LLC’s holdings in Alphabet were worth $747,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. IFS Advisors LLC raised its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley increased its position in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC increased its position in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC increased its position in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.0%

GOOG stock opened at $281.82 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. 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 $3.41 trillion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a 50-day moving average of $244.59 and a two-hundred day moving average of $200.68.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOG shares. HSBC reissued a “buy” rating and issued a $335.00 price target on shares of Alphabet in a research note on Thursday. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Oppenheimer raised their price target on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday. Pivotal Research raised their price target on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday. Finally, KeyCorp reissued an “overweight” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

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.