Alphabet Inc. $GOOGL Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,036 shares of the information services provider’s stock after selling 5,440 shares during the period. Alphabet comprises about 2.3% of University of Texas Texas AM Investment Management Co.’s portfolio, making the stock its 7th largest position. University of Texas Texas AM Investment Management Co.’s holdings in Alphabet were worth $14,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,896 shares of company stock valued at $44,892,175 in the last quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 0.2%

Shares of Alphabet stock opened at $284.75 on Friday. The stock has a market cap of $3.44 trillion, a P/E ratio of 28.08, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The business’s 50 day moving average is $249.91 and its 200-day moving average is $203.28.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating 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 net margin of 32.23% and a return on equity of 36.08%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GOOGL shares. HSBC increased their price objective on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Citic Securities increased their target price on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a report on Monday. Moffett Nathanson boosted their price target on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Rosenblatt Securities lifted their target price on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

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.