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Eads & Heald Wealth Management Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

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Eads & Heald Wealth Management cut its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 799 shares of the information services provider’s stock after selling 26 shares during the period. Eads & Heald Wealth Management’s holdings in Alphabet were worth $2,222,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. ARGI Investment Services LLC grew its holdings in shares of Alphabet by 6.6% in the first quarter. ARGI Investment Services LLC now owns 1,033 shares of the information services provider’s stock valued at $2,873,000 after acquiring an additional 64 shares in the last quarter. Key Financial Inc grew its holdings in shares of Alphabet by 13.0% in the first quarter. Key Financial Inc now owns 460 shares of the information services provider’s stock valued at $1,279,000 after acquiring an additional 53 shares in the last quarter. Virginia National Bank bought a new position in shares of Alphabet in the first quarter valued at approximately $353,000. Boyd Watterson Asset Management LLC OH grew its holdings in shares of Alphabet by 4.3% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 2,814 shares of the information services provider’s stock valued at $7,827,000 after acquiring an additional 117 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in Alphabet by 12.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,750 shares of the information services provider’s stock valued at $18,840,000 after purchasing an additional 768 shares during the period. 41.70% of the stock is owned by institutional investors.

Alphabet Stock Up 1.3 %

GOOGL opened at $2,235.55 on Monday. The company has a market cap of $1.47 trillion, a P/E ratio of 20.22, a P/E/G ratio of 1.10 and a beta of 1.10. The business’s 50-day moving average price is $154.79 and its 200-day moving average price is $140.76. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $2,037.69 and a 12 month high of $3,030.93.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.05). The company had revenue of $56.02 billion during the quarter, compared to analysts’ expectations of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the prior year, the firm posted $1.31 EPS. On average, equities analysts expect that Alphabet Inc. will post 109.34 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOGL shares. Canaccord Genuity Group reduced their price objective on Alphabet from $175.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Wedbush reduced their price objective on Alphabet from $190.00 to $155.65 in a report on Wednesday, April 27th. Credit Suisse Group reduced their price objective on Alphabet from $172.50 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. UBS Group reduced their price objective on Alphabet from $180.00 to $132.50 and set a “buy” rating for the company in a report on Thursday, June 16th. Finally, Mizuho reduced their price objective on Alphabet from $180.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $162.21.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the transaction, the senior vice president now owns 497 shares in the company, valued at $1,160,644.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 42 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $98,082.60. Following the sale, the chief accounting officer now directly owns 1,170 shares of the company’s stock, valued at $2,732,301. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 490 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the completion of the sale, the senior vice president now directly owns 497 shares in the company, valued at $1,160,644.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,739 shares of company stock worth $12,616,323. Company insiders own 11.44% of the company’s stock.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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