Horizon Wealth Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Horizon Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,564 shares of the information services provider’s stock after selling 345 shares during the period. Alphabet comprises approximately 0.4% of Horizon Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. Horizon Wealth Management LLC’s holdings in Alphabet were worth $1,933,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% in 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 during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP bought a new position in Alphabet in the second quarter worth approximately $40,000. Slocum Gordon & Co LLP purchased a new position in Alphabet during the 2nd quarter worth $44,000. Finally, Hoese & Co LLP raised its position in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.1 %

NASDAQ:GOOG opened at $166.74 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s fifty day moving average price is $163.17 and its 200-day moving average price is $169.55. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 25.57, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the business posted $1.44 EPS. The company’s revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. 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 report on Wednesday, July 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $186.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

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