Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,112 shares of the information services provider’s stock after selling 2,749 shares during the period. Petredis Investment Advisors LLC’s holdings in Alphabet were worth $3,530,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the period. Swedbank AB purchased a new stake in shares of Alphabet in the first quarter worth about $1,378,708,000. Capital International Investors boosted its stake in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Alphabet by 51.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after acquiring an additional 2,190,795 shares during the period. Finally, Vima LLC raised its position in Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after acquiring an additional 2,000,000 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer cut their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at $4,838,460. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,926 shares of company stock worth $32,251,590 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of GOOG opened at $166.90 on Wednesday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market cap of $2.06 trillion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s fifty day moving average is $163.05 and its two-hundred day moving average is $169.57. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.