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Williams Jones Wealth Management LLC. Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Williams Jones Wealth Management LLC. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 0.7% during the first quarter, HoldingsChannel reports. The fund owned 68,103 shares of the information services provider’s stock after selling 454 shares during the quarter. Alphabet accounts for approximately 2.6% of Williams Jones Wealth Management LLC.’s investment portfolio, making the stock its 7th largest holding. Williams Jones Wealth Management LLC.’s holdings in Alphabet were worth $189,418,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Dravo Bay LLC bought a new position in shares of Alphabet in the first quarter worth about $28,000. Wealthgate Family Office LLC bought a new position in shares of Alphabet in the fourth quarter worth about $32,000. Verity Asset Management Inc. grew its holdings in shares of Alphabet by 536,206.4% in the first quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock worth $39,000 after purchasing an additional 589,827 shares during the last quarter. Greenspring Advisors LLC grew its holdings in shares of Alphabet by 76.6% in the first quarter. Greenspring Advisors LLC now owns 491 shares of the information services provider’s stock worth $49,000 after purchasing an additional 213 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Alphabet in the fourth quarter worth about $55,000. Institutional investors own 1.88% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $110.65 on Friday. The stock has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.77 and a beta of 1.09. Alphabet Inc. has a 12 month low of $101.88 and a 12 month high of $151.55. The firm’s 50 day simple moving average is $113.69 and its 200-day simple moving average is $119.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The firm had revenue of $57.47 billion for the quarter, compared to analyst estimates of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the business earned $27.26 EPS. Analysts expect that Alphabet Inc. will post 5.2 EPS for the current year.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Rosenblatt Securities upped their price objective on shares of Alphabet from $154.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus set a $155.00 price objective on shares of Alphabet in a research note on Monday, July 18th. JPMorgan Chase & Co. lowered their price objective on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. Finally, Monness Crespi & Hardt lowered their price objective on shares of Alphabet to $145.00 in a research note on Tuesday, July 5th. Five equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.41.

Insider Transactions at Alphabet

In related news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 500 shares of Alphabet stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $120.00, for a total transaction of $60,000.00. Following the completion of the sale, the director now directly owns 34,760 shares in the company, valued at approximately $4,171,200. The disclosure for this sale can be found here. Insiders have sold 43,036 shares of company stock valued at $15,564,998 in the last 90 days. 11.44% of the stock is currently owned by company insiders.

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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