Alphabet Inc. $GOOG Shares Sold by KLCM Advisors Inc.

KLCM Advisors Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,691 shares of the information services provider’s stock after selling 620 shares during the period. KLCM Advisors Inc.’s holdings in Alphabet were worth $2,961,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC lifted its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new position in Alphabet in the first quarter valued at about $2,622,943,000. Vanguard Group Inc. grew its stake in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Alphabet during the 1st quarter worth approximately $369,713,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Piper Sandler upped their target price on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. KeyCorp reaffirmed an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday. TD Cowen upped their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. BMO Capital Markets restated an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday. Finally, Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research note 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Stock Down 0.0%

Shares of NASDAQ:GOOG opened at $281.82 on Friday. 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. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. The company’s fifty day moving average is $244.59 and its two-hundred day moving average is $200.98. 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 (NASDAQ:GOOG) last released 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 firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is currently owned by insiders.

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.