Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Deepwater Asset Management LLC

Deepwater Asset Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,361 shares of the information services provider’s stock after selling 6,547 shares during the quarter. Alphabet makes up 4.0% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 20th biggest holding. Deepwater Asset Management LLC’s holdings in Alphabet were worth $11,262,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GOOG. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter valued at approximately $37,000. HWG Holdings LP purchased a new stake in Alphabet during the 2nd quarter valued at approximately $40,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet during the 2nd quarter valued at approximately $44,000. Finally, Hoese & Co LLP raised its stake in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of several analyst reports. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Pivotal Research initiated coverage on Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Stock Performance

GOOG opened at $171.14 on Wednesday. The stock has a market cap 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 debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50 day simple moving average is $163.39 and its 200 day simple moving average is $170.26. Alphabet Inc. has a 1-year low of $123.88 and a 1-year high of $193.31.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet 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.