Mn Services Vermogensbeheer B.V. Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 658,860 shares of the information services provider’s stock after selling 16,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Alphabet were worth $78,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Spreng Capital Management Inc. grew its stake in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares during the last quarter. West Family Investments Inc. boosted its holdings in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares during the period. Maple Capital Management Inc. grew its position in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the last quarter. Private Advisory Group LLC increased its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares during the period. Finally, Weik Capital Management raised its position in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock opened at $136.25 on Tuesday. The stock’s 50 day moving average price is $133.42 and its 200 day moving average price is $127.88. The firm has a market cap of $1.71 trillion, a P/E ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. Alphabet Inc. has a 1 year low of $84.86 and a 1 year high of $141.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The business had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. On average, sell-side analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock valued at $23,425,367 in the last ninety days. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOGL shares. Susquehanna restated a “positive” rating and issued a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. Evercore ISI boosted their price target on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Needham & Company LLC increased their price objective on Alphabet from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. JMP Securities boosted their target price on Alphabet from $138.00 to $140.00 and gave the company a “market outperform” rating in a report on Wednesday, October 25th. Finally, Jefferies Financial Group upped their price target on Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Alphabet Company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.