Alphabet Inc. (NASDAQ:GOOGL) Holdings Cut by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,025 shares of the information services provider’s stock after selling 1,705 shares during the period. Alphabet accounts for 3.8% of Beech Hill Advisors Inc.’s holdings, making the stock its 2nd biggest position. Beech Hill Advisors Inc.’s holdings in Alphabet were worth $7,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. grew its holdings in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. grew its holdings in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. grew its stake in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC grew its stake in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its stake in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares in the last quarter. 35.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and raised their price target for the company from $123.00 to $132.00 in a research note on Monday, June 26th. Susquehanna restated a “positive” rating and issued a $150.00 price target on shares of Alphabet in a research note on Thursday, August 31st. Tigress Financial raised their price target on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. Sanford C. Bernstein raised their price objective on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Finally, Bank of America raised their price objective on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday, August 30th. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.89.

Alphabet Trading Up 0.6 %

Shares of GOOGL stock opened at $138.21 on Tuesday. The firm has a market capitalization of $1.74 trillion, a P/E ratio of 29.28, a P/E/G ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $139.16. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $129.60 and its 200 day simple moving average is $117.88.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares in the company, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,092 shares of company stock worth $12,221,941. Insiders own 0.88% of the company’s stock.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.