Rheos Capital Works Inc. Trims Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Rheos Capital Works Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 79.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 70,000 shares of the information services provider’s stock after selling 270,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Alphabet were worth $11,703,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. SPC Financial Inc. grew its position in Alphabet by 16.6% during the third quarter. SPC Financial Inc. now owns 1,825 shares of the information services provider’s stock valued at $305,000 after buying an additional 260 shares during the period. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $232,000. AAFMAA Wealth Management & Trust LLC grew its position in shares of Alphabet by 16.2% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 20,654 shares of the information services provider’s stock valued at $3,453,000 after acquiring an additional 2,884 shares during the period. Firethorn Wealth Partners LLC increased its stake in shares of Alphabet by 14.7% in the 3rd quarter. Firethorn Wealth Partners LLC now owns 3,875 shares of the information services provider’s stock valued at $648,000 after purchasing an additional 497 shares in the last quarter. Finally, Provident Wealth Management LLC increased its stake in shares of Alphabet by 31.5% in the 3rd quarter. Provident Wealth Management LLC now owns 848 shares of the information services provider’s stock valued at $142,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $166.74 on Thursday. The business’s 50 day moving average price is $163.17 and its 200 day moving average price is $169.55. The company has a market cap of $2.06 trillion, a price-to-earnings 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 quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on GOOG shares. Pivotal Research initiated coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective 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 price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer lowered their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $186.90.

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.