Worth Financial Advisory Group LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

Worth Financial Advisory Group LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,441 shares of the information services provider’s stock after selling 88 shares during the period. Alphabet makes up about 1.1% of Worth Financial Advisory Group LLC’s holdings, making the stock its 21st biggest position. Worth Financial Advisory Group LLC’s holdings in Alphabet were worth $1,913,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOG. Capital International Investors increased its position in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the period. Capital World Investors boosted its position in Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors raised its stake in shares of Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after acquiring an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent analyst reports. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. UBS Group decreased their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction 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 approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction 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 directly 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 sold a total of 220,426 shares of company stock valued at $35,993,340 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.14 on Wednesday. The business has a fifty day simple moving average of $163.39 and a two-hundred day simple moving average of $170.26. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $123.88 and a 12 month high of $193.31.

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.