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Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Westwood Wealth Management

Westwood Wealth Management lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,645 shares of the information services provider’s stock after selling 690 shares during the period. Alphabet accounts for 6.1% of Westwood Wealth Management’s investment portfolio, making the stock its 4th largest holding. Westwood Wealth Management’s holdings in Alphabet were worth $15,701,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Dravo Bay LLC purchased a new position in Alphabet during the 1st quarter worth $28,000. Wealthgate Family Office LLC purchased a new position in Alphabet during the 4th quarter worth $32,000. NS Partners Ltd purchased a new position in Alphabet during the 4th quarter worth $41,000. Joseph Group Capital Management purchased a new position in Alphabet during the 4th quarter worth $2,040,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Alphabet in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 41.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOGL. Credit Suisse Group cut their price target on shares of Alphabet from $143.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Piper Sandler cut their price target on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Truist Financial cut their price target on shares of Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Rosenblatt Securities cut their price target on shares of Alphabet from $205.00 to $154.00 and set a “buy” rating for the company in a report on Monday, July 25th. Finally, BNP Paribas downgraded shares of Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 price target for the company. in a report on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.36.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $115.15, for a total value of $32,242.00. Following the transaction, the director now owns 11,420 shares in the company, valued at $1,315,013. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $115.15, for a total value of $32,242.00. Following the transaction, the director now owns 11,420 shares in the company, valued at $1,315,013. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 847 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $114.33, for a total transaction of $96,837.51. Following the completion of the transaction, the chief accounting officer now owns 24,052 shares in the company, valued at approximately $2,749,865.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,111 shares of company stock worth $15,739,038. Company insiders own 11.44% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $109.42 on Tuesday. The company’s 50 day simple moving average is $156.88 and its 200 day simple moving average is $135.86. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. Alphabet Inc. has a 1 year low of $101.88 and a 1 year high of $151.55. The stock has a market capitalization of $1.44 trillion, a PE ratio of 20.36, a P/E/G ratio of 1.84 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The business had revenue of $57.47 billion during the quarter, compared to analysts’ expectations of $57.55 billion. During the same quarter in the previous year, the business posted $27.26 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 5.2 EPS for the current year.

Alphabet Profile

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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.

See Also

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