Financial Insights Inc. Has $475,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Financial Insights Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,841 shares of the information services provider’s stock after selling 149 shares during the period. Financial Insights Inc.’s holdings in Alphabet were worth $475,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Leo Wealth LLC increased its stake in shares of Alphabet by 14.3% during the third quarter. Leo Wealth LLC now owns 22,217 shares of the information services provider’s stock worth $3,714,000 after purchasing an additional 2,782 shares during the period. Eastern Bank grew its holdings in Alphabet by 401.8% in the 3rd quarter. Eastern Bank now owns 80,674 shares of the information services provider’s stock valued at $13,488,000 after buying an additional 64,597 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Alphabet by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 525,718 shares of the information services provider’s stock worth $87,895,000 after buying an additional 22,695 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Alphabet during the third quarter worth $14,741,000. Finally, Sweeney & Michel LLC boosted its position in shares of Alphabet by 0.5% in the third quarter. Sweeney & Michel LLC now owns 66,623 shares of the information services provider’s stock valued at $10,996,000 after acquiring an additional 340 shares during the period. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Oppenheimer dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. UBS Group cut their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Trading Down 1.4 %

GOOG opened at $164.48 on Thursday. The company has a market cap of $2.03 trillion, a P/E ratio of 25.23, a PEG ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $163.28 and its 200-day moving average is $169.92. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. Insiders own 12.99% of the company’s stock.

Alphabet Profile

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