HCR Wealth Advisors Decreases Stock Holdings in Alphabet Inc (NASDAQ:GOOG)

HCR Wealth Advisors trimmed its position in shares of Alphabet Inc (NASDAQ:GOOG) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,291 shares of the information services provider’s stock after selling 22 shares during the quarter. HCR Wealth Advisors’ holdings in Alphabet were worth $1,857,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Campbell Wealth Management acquired a new position in shares of Alphabet during the second quarter valued at about $41,000. Prestige Wealth Management Group LLC increased its holdings in shares of Alphabet by 1,700.0% during the first quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares in the last quarter. Cordasco Financial Network increased its holdings in shares of Alphabet by 32.1% during the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 9 shares in the last quarter. New England Investment & Retirement Group Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $44,000. Finally, Paragon Capital Management LLC acquired a new position in shares of Alphabet during the first quarter valued at about $47,000. 32.91% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:GOOG traded down $48.49 during midday trading on Friday, reaching $1,482.96. 3,429,036 shares of the company’s stock traded hands, compared to its average volume of 1,408,813. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,586.99. The company has a market cap of $1,012.30 billion, a P/E ratio of 32.61, a PEG ratio of 2.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The company has a fifty day simple moving average of $1,474.19 and a two-hundred day simple moving average of $1,377.20.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. As a group, research analysts forecast that Alphabet Inc will post 42.07 EPS for the current fiscal year.

Several research firms have recently issued reports on GOOG. Robert W. Baird upped their price objective on shares of Alphabet from $1,650.00 to $1,675.00 in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Oppenheimer increased their price target on shares of Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group increased their price target on shares of Alphabet from $1,530.00 to $1,600.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a report on Friday. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,671.00.

In other Alphabet news, Director Ann Mather sold 32 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total value of $45,388.48. Following the transaction, the director now owns 1,119 shares in the company, valued at approximately $1,587,178.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total value of $81,816.60. Following the completion of the transaction, the director now owns 592 shares in the company, valued at approximately $807,257.12. The disclosure for this sale can be found here. Insiders have sold a total of 212 shares of company stock worth $303,047 in the last quarter. Insiders own 12.99% of the company’s stock.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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