Kaydan Wealth Management Inc. Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Kaydan Wealth Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,593 shares of the information services provider’s stock after selling 76 shares during the period. Kaydan Wealth Management Inc.’s holdings in Alphabet were worth $434,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Emprise Bank bought a new position in shares of Alphabet in the 1st quarter worth about $1,756,000. Rowlandmiller & PARTNERS.ADV increased its stake in shares of Alphabet by 1.5% during the first quarter. Rowlandmiller & PARTNERS.ADV now owns 83,575 shares of the information services provider’s stock valued at $12,725,000 after purchasing an additional 1,219 shares in the last quarter. CJM Wealth Advisers Ltd. lifted its holdings in shares of Alphabet by 2.2% during the first quarter. CJM Wealth Advisers Ltd. now owns 6,550 shares of the information services provider’s stock valued at $997,000 after purchasing an additional 140 shares during the last quarter. Abner Herrman & Brock LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $18,675,000. Finally, Rise Advisors LLC grew its stake in shares of Alphabet by 159.7% in the 1st quarter. Rise Advisors LLC now owns 8,357 shares of the information services provider’s stock worth $1,272,000 after buying an additional 5,139 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Oppenheimer reduced their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, UBS Group lowered their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOG opened at $166.74 on Thursday. 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. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The business has a fifty day moving average of $163.17 and a 200 day moving average of $169.55.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) 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 the consensus estimate of $84.22 billion. During the same period in the previous year, the company posted $1.44 EPS. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

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.