Alphabet Inc. (NASDAQ:GOOG) Stock Position Lessened by Ironwood Financial llc

Ironwood Financial llc decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,918 shares of the information services provider’s stock after selling 398 shares during the quarter. Ironwood Financial llc’s holdings in Alphabet were worth $3,163,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mezzasalma Advisors LLC lifted its holdings in shares of Alphabet by 2.3% in the third quarter. Mezzasalma Advisors LLC now owns 3,497 shares of the information services provider’s stock valued at $585,000 after buying an additional 77 shares during the period. Hengehold Capital Management LLC lifted its holdings in shares of Alphabet by 14.9% in the third quarter. Hengehold Capital Management LLC now owns 5,713 shares of the information services provider’s stock valued at $955,000 after buying an additional 741 shares during the period. Probity Advisors Inc. lifted its holdings in shares of Alphabet by 2.6% in the third quarter. Probity Advisors Inc. now owns 8,014 shares of the information services provider’s stock valued at $1,340,000 after buying an additional 204 shares during the period. Walter Public Investments Inc. lifted its holdings in shares of Alphabet by 3.1% during the third quarter. Walter Public Investments Inc. now owns 165,828 shares of the information services provider’s stock valued at $27,725,000 after purchasing an additional 4,994 shares during the last quarter. Finally, FLC Capital Advisors lifted its holdings in shares of Alphabet by 1.7% during the third quarter. FLC Capital Advisors now owns 24,513 shares of the information services provider’s stock valued at $4,098,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. UBS Group reduced their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Stock Performance

GOOG opened at $164.51 on Friday. The firm has a market capitalization of $2.03 trillion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock’s 50 day moving average price is $163.18 and its two-hundred day moving average price is $169.52. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) 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 return on equity of 30.49% and a net margin of 26.70%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

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.