Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Regent Peak Wealth Advisors LLC

Regent Peak Wealth Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,498 shares of the information services provider’s stock after selling 309 shares during the quarter. Alphabet accounts for approximately 0.7% of Regent Peak Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding. Regent Peak Wealth Advisors LLC’s holdings in Alphabet were worth $2,925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Sumitomo Life Insurance Co. raised its stake in shares of Alphabet by 3.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 71,764 shares of the information services provider’s stock valued at $11,998,000 after acquiring an additional 2,067 shares during the period. Safeguard Financial LLC increased its holdings in Alphabet by 3.7% in the 3rd quarter. Safeguard Financial LLC now owns 4,152 shares of the information services provider’s stock valued at $694,000 after purchasing an additional 148 shares in the last quarter. Tsfg LLC raised its position in Alphabet by 1.5% in the third quarter. Tsfg LLC now owns 15,883 shares of the information services provider’s stock valued at $2,656,000 after purchasing an additional 233 shares during the period. Nexus Investment Management ULC lifted its stake in shares of Alphabet by 0.9% during the third quarter. Nexus Investment Management ULC now owns 210,543 shares of the information services provider’s stock worth $35,201,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Roberts Wealth Advisors LLC boosted its position in shares of Alphabet by 1.3% in the third quarter. Roberts Wealth Advisors LLC now owns 83,244 shares of the information services provider’s stock worth $13,794,000 after buying an additional 1,069 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 over the last 90 days. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on GOOG shares. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Oppenheimer lowered their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. UBS Group cut their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Stock Performance

Shares of GOOG stock opened at $166.74 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company’s 50-day simple moving average is $163.17 and its 200-day simple moving average is $169.55.

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

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.