Oppenheimer Asset Management Inc. Sells 18,929 Shares of Alphabet Inc. $GOOGL

Oppenheimer Asset Management Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 390,283 shares of the information services provider’s stock after selling 18,929 shares during the quarter. Alphabet accounts for about 0.8% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 20th largest holding. Oppenheimer Asset Management Inc.’s holdings in Alphabet were worth $68,780,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOOGL. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Alaethes Wealth LLC lifted its stake in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the last quarter. Moment Partners LLC boosted its holdings in Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after acquiring an additional 504 shares during the period. Finally, Blackhawk Capital Partners LLC. grew its position in Alphabet by 8.4% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider’s stock worth $4,832,000 after acquiring an additional 2,434 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’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 transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 189,896 shares of company stock worth $44,892,175 in the last three months. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.2%

Shares of NASDAQ:GOOGL opened at $284.75 on Friday. The firm has a market capitalization 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 debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day moving average price of $249.91 and a 200-day moving average price of $203.28. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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 company had revenue of $102.35 billion for 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%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Canaccord Genuity Group boosted their price objective on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Evercore ISI increased their price target on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. President Capital raised their price target on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research reaffirmed an “outperform” rating and set a $350.00 price objective (up from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. Finally, Guggenheim increased their target price on shares of Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Three 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.