KMG Fiduciary Partners LLC Sells 950 Shares of Alphabet Inc. (NASDAQ:GOOG)

KMG Fiduciary Partners LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,203 shares of the information services provider’s stock after selling 950 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Alphabet were worth $4,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC grew its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the 2nd quarter valued at approximately $37,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter valued at approximately $40,000. Slocum Gordon & Co LLP purchased a new position in Alphabet during the 2nd quarter valued at approximately $44,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Scotiabank began coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. UBS Group dropped their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Finally, TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $165.05 on Friday. The company has a fifty day moving average of $163.18 and a two-hundred day moving average of $169.67. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market capitalization of $2.04 trillion, a PE ratio of 25.31, 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 (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for 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%. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company posted $1.44 EPS. As a group, research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.