Capital Advisors Wealth Management LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Capital Advisors Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,864 shares of the information services provider’s stock after selling 76 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in Alphabet were worth $980,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in Alphabet during the fourth quarter worth approximately $34,000. Abich Financial Wealth Management LLC grew its stake in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the second quarter worth approximately $37,000. HWG Holdings LP purchased a new stake in Alphabet during the second quarter worth approximately $40,000. Finally, Slocum Gordon & Co LLP purchased a new stake in Alphabet during the second quarter worth approximately $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,406,343.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,406,343.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,926 shares of company stock worth $32,251,590. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $166.90 on Wednesday. The company has a 50-day simple moving average of $163.05 and a 200-day simple moving average of $169.57. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 25.60, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. UBS Group reduced their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

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.