Walter & Keenan Wealth Management LLC IN ADV Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

by · The Markets Daily

Walter & Keenan Wealth Management LLC IN ADV cut its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,483 shares of the information services provider’s stock after selling 1,000 shares during the quarter. Alphabet comprises 3.6% of Walter & Keenan Wealth Management LLC IN ADV’s investment portfolio, making the stock its 5th biggest position. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Alphabet were worth $11,784,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GOOG. Abich Financial Wealth Management LLC grew its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Shares of GOOG stock opened at $176.14 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. Alphabet Inc. has a fifty-two week low of $123.93 and a fifty-two week high of $193.31. The firm has a market cap of $2.18 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.27 and a beta of 1.04. The business’s 50 day moving average price is $163.56 and its 200-day moving average price is $170.30.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on GOOG. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.56.

View Our Latest Analysis on GOOG

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was 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. In other Alphabet news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s 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 of the company’s stock, valued at $5,264,112. 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 worth $35,993,340 over the last 90 days. 12.99% of the stock is owned by company insiders.

About Alphabet

(Free Report)

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.

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