Alphabet Inc. $GOOGL Stake Lowered by Darden Wealth Group Inc

Darden Wealth Group Inc lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,867 shares of the information services provider’s stock after selling 2,465 shares during the quarter. Alphabet accounts for approximately 3.8% of Darden Wealth Group Inc’s holdings, making the stock its 5th biggest position. Darden Wealth Group Inc’s holdings in Alphabet were worth $6,321,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of analysts have commented on GOOGL shares. Jefferies Financial Group lifted their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Tigress Financial lifted their price objective on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a research report on Wednesday, October 22nd. Susquehanna upped their target price on shares of Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research note on Thursday, October 30th. Finally, Oppenheimer lifted their price target on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $284.75 on Friday. The firm’s 50 day moving average price is $249.91 and its 200-day moving average price is $203.28. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. 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 stock has a market capitalization of $3.44 trillion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced 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. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares in the company, valued at $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,896 shares of company stock worth $44,892,175 over the last three months. 11.64% 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.