Trifecta Capital Advisors LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Trifecta Capital Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,161 shares of the information services provider’s stock after selling 420 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Alphabet were worth $3,178,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet in the 1st quarter valued at about $30,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $41,000. Finally, Quarry LP purchased a new stake in Alphabet during the second quarter worth approximately $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 1.6 %

Shares of NASDAQ GOOGL opened at $165.27 on Friday. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a 50-day moving average price of $161.95 and a 200 day moving average price of $168.51. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research analyst reports. Roth Mkm reissued a “buy” rating and set a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Morgan Stanley cut their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Guggenheim lifted their target price on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup upped their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. Company insiders own 11.55% of the company’s stock.

About Alphabet

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.