Opal Wealth Advisors LLC Sells 450 Shares of Alphabet Inc. (NASDAQ:GOOG)

Opal Wealth Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,234 shares of the information services provider’s stock after selling 450 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Alphabet were worth $708,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Duncan Williams Asset Management LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $289,000. Trust Co. of Toledo NA OH raised its stake in shares of Alphabet by 2.8% in the first quarter. Trust Co. of Toledo NA OH now owns 38,318 shares of the information services provider’s stock valued at $5,834,000 after purchasing an additional 1,043 shares in the last quarter. Advance Capital Management Inc. lifted its position in Alphabet by 58.7% in the first quarter. Advance Capital Management Inc. now owns 6,299 shares of the information services provider’s stock worth $959,000 after purchasing an additional 2,330 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in Alphabet by 1.0% during the first quarter. Moody National Bank Trust Division now owns 41,187 shares of the information services provider’s stock worth $6,271,000 after buying an additional 395 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $166.90 on Wednesday. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock has a 50 day moving average price of $163.05 and a 200 day moving average price of $169.57.

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

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,926 shares of company stock valued at $32,251,590 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GOOG shares. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Finally, Oppenheimer reduced their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Four research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.