Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,989 shares of the information services provider’s stock after selling 631 shares during the period. Profit Investment Management LLC’s holdings in Alphabet were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Live Oak Investment Partners purchased a new position in shares of Alphabet in the 4th quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the 3rd quarter valued at about $38,000. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 100.0% in the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Alphabet in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Monday, September 11th. The stock was 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 of the company’s stock, valued at $1,041,283.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on 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 directly owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,092 shares of company stock valued at $12,221,941. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $138.21 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The stock has a fifty day moving average of $129.60 and a two-hundred day moving average of $117.88. The company has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the business posted $1.21 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. Wolfe Research increased their price objective on Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. The Goldman Sachs Group raised their price target on Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. 51job restated a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Evercore ISI raised their price target on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Finally, JPMorgan Chase & Co. raised their price target on Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.

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