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Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Robertson Stephens Wealth Management LLC

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Robertson Stephens Wealth Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.1% during the 3rd quarter, Holdings Channel reports. The fund owned 2,778 shares of the information services provider’s stock after selling 457 shares during the quarter. Alphabet makes up about 0.8% of Robertson Stephens Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Robertson Stephens Wealth Management LLC’s holdings in Alphabet were worth $7,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GOOG. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 5.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,993,372 shares of the information services provider’s stock valued at $35,071,868,000 after acquiring an additional 708,879 shares in the last quarter. FMR LLC lifted its position in shares of Alphabet by 1.8% in the second quarter. FMR LLC now owns 8,028,176 shares of the information services provider’s stock valued at $20,121,178,000 after acquiring an additional 144,042 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Alphabet by 0.8% in the second quarter. Geode Capital Management LLC now owns 4,528,294 shares of the information services provider’s stock valued at $11,314,477,000 after acquiring an additional 36,958 shares in the last quarter. Capital International Investors lifted its position in shares of Alphabet by 0.9% in the second quarter. Capital International Investors now owns 4,144,906 shares of the information services provider’s stock valued at $10,388,855,000 after acquiring an additional 38,915 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.1% in the second quarter. JPMorgan Chase & Co. now owns 3,920,416 shares of the information services provider’s stock valued at $9,825,819,000 after acquiring an additional 326,300 shares in the last quarter. 31.26% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on GOOG shares. Raymond James lifted their price objective on Alphabet from $3,200.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. They noted that the move was a valuation call. Piper Sandler lifted their price objective on Alphabet from $3,034.00 to $3,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 27th. Oppenheimer lifted their price objective on Alphabet from $3,000.00 to $3,500.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Royal Bank of Canada started coverage on Alphabet in a research report on Friday, October 1st. They set an “outperform” rating and a $3,400.00 price objective on the stock. Finally, Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, January 3rd. Three investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $3,203.55.

Shares of NASDAQ GOOG opened at $2,800.35 on Wednesday. Alphabet Inc. has a twelve month low of $1,721.55 and a twelve month high of $3,037.00. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $2,916.32 and a 200-day simple moving average of $2,814.97. The stock has a market capitalization of $1.86 trillion, a PE ratio of 26.97, a PEG ratio of 0.94 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $23.13 by $4.86. The firm had revenue of $65.12 billion during the quarter, compared to analyst estimates of $63.35 billion. Alphabet had a return on equity of 30.22% and a net margin of 29.52%. Alphabet’s revenue was up 41.0% compared to the same quarter last year. During the same period last year, the business posted $16.40 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 108.29 earnings per share for the current year.

In other Alphabet news, SVP Philipp Schindler sold 7,951 shares of Alphabet stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $2,994.60, for a total transaction of $23,810,064.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sergey Brin sold 5,489 shares of Alphabet stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $2,755.92, for a total value of $15,127,244.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,585 shares of company stock valued at $397,211,370. 12.99% of the stock is currently owned by company insiders.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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