David R. Rahn & Associates Inc. cut its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 6.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 965 shares of the information services provider’s stock after selling 64 shares during the period. Alphabet comprises approximately 1.3% of David R. Rahn & Associates Inc.’s holdings, making the stock its 17th largest position. David R. Rahn & Associates Inc.’s holdings in Alphabet were worth $1,364,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. JGP Wealth Management LLC raised its position in shares of Alphabet by 4.8% in the 1st quarter. JGP Wealth Management LLC now owns 173 shares of the information services provider’s stock valued at $209,000 after acquiring an additional 8 shares during the period. Harvest Group Wealth Management LLC raised its holdings in shares of Alphabet by 7.0% in the first quarter. Harvest Group Wealth Management LLC now owns 122 shares of the information services provider’s stock valued at $141,000 after purchasing an additional 8 shares during the last quarter. Legacy Bridge LLC raised its holdings in shares of Alphabet by 1.1% in the first quarter. Legacy Bridge LLC now owns 735 shares of the information services provider’s stock valued at $855,000 after purchasing an additional 8 shares during the last quarter. Holistic Financial Partners raised its holdings in shares of Alphabet by 4.7% in the first quarter. Holistic Financial Partners now owns 178 shares of the information services provider’s stock valued at $207,000 after purchasing an additional 8 shares during the last quarter. Finally, Veracity Capital LLC raised its holdings in shares of Alphabet by 1.0% in the first quarter. Veracity Capital LLC now owns 776 shares of the information services provider’s stock valued at $902,000 after purchasing an additional 8 shares during the last quarter. 32.91% of the stock is owned by institutional investors.

GOOG has been the subject of a number of research analyst reports. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, April 29th. Raymond James dropped their target price on Alphabet from $1,580.00 to $1,425.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. They noted that the move was a valuation call. Pivotal Research lifted their target price on Alphabet from $1,425.00 to $1,575.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Credit Suisse Group dropped their target price on Alphabet from $1,700.00 to $1,500.00 and set an “outperform” rating for the company in a report on Monday, April 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,580.52.

NASDAQ GOOG traded up $9.24 during trading on Tuesday, hitting $1,520.58. 1,580,695 shares of the company’s stock were exchanged, compared to its average volume of 1,738,490. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. The company has a market cap of $1,052.42 billion, a PE ratio of 30.24, a P/E/G ratio of 2.32 and a beta of 1.05. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,577.13. The stock’s 50 day moving average price is $1,440.77 and its two-hundred day moving average price is $1,363.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $11.27 by ($1.40). The business had revenue of $41.16 billion for the quarter, compared to analyst estimates of $40.29 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.50 EPS. Analysts forecast that Alphabet Inc will post 41.23 earnings per share for the current fiscal year.

In other news, Director Ann Mather sold 30 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $1,328.50, for a total transaction of $39,855.00. Following the sale, the director now directly owns 1,119 shares in the company, valued at $1,486,591.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total value of $81,816.60. Following the sale, the director now owns 592 shares in the company, valued at $807,257.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 242 shares of company stock worth $342,902. Company insiders own 12.99% of the company’s stock.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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