4J Wealth Management LLC Cuts Stake in Alphabet Inc. $GOOG

4J Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,992 shares of the information services provider’s stock after selling 213 shares during the period. Alphabet makes up about 1.7% of 4J Wealth Management LLC’s portfolio, making the stock its 15th biggest position. 4J Wealth Management LLC’s holdings in Alphabet were worth $2,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IFS Advisors LLC grew its stake 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 during the last quarter. Robbins Farley lifted its holdings in shares of Alphabet by 60.0% during the second 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 period. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% during the second 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 period. Fairman Group LLC lifted its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 222,330 shares of company stock worth $51,167,625 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets restated an “outperform” rating and issued a $340.00 price objective on shares of Alphabet in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. TD Cowen boosted their price target on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Rosenblatt Securities set a $279.00 price target on Alphabet in a research report on Thursday. Finally, DA Davidson set a $825.00 price target on Alphabet in a research report on Monday, October 27th. Five 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Down 0.0%

Shares of NASDAQ:GOOG opened at $281.82 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $244.59 and a two-hundred day moving average of $201.30. The stock has a market cap of $3.41 trillion, a P/E ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

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.