Weatherly Asset Management L. P. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,556 shares of the information services provider’s stock after selling 73 shares during the period. Weatherly Asset Management L. P.’s holdings in Alphabet were worth $1,291,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in GOOG. Pacific Center for Financial Services bought a new position in shares of Alphabet during the fourth quarter worth about $142,000. Israel Discount Bank of New York GFN bought a new position in shares of Alphabet during the fourth quarter worth about $166,000. Feltz Wealth PLAN Inc. bought a new position in shares of Alphabet during the first quarter worth about $170,000. Pinnacle Bank bought a new position in shares of Alphabet during the first quarter worth about $181,000. Finally, Palo Capital Inc. bought a new position in shares of Alphabet during the first quarter worth about $202,000. Institutional investors own 34.54% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.79% during mid-day trading on Friday, hitting $914.39. 1,206,782 shares of the stock were exchanged. The company has a market capitalization of $633.56 billion, a PE ratio of 33.14 and a beta of 0.94. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The stock’s 50-day moving average is $936.66 and its 200 day moving average is $889.11.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $8.42 EPS. On average, analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
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A number of equities research analysts recently weighed in on the stock. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target for the company. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reissued a “hold” rating and set a $980.00 price target (down from $990.00) on shares of Alphabet in a research note on Monday, July 17th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $1,200.00 price target on shares of Alphabet in a research note on Wednesday, June 28th. Credit Suisse Group boosted their price target on shares of Alphabet from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,026.22.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $937.92, for a total transaction of $3,751,680.00. Following the sale, the chief executive officer now directly owns 1,830 shares of the company’s stock, valued at $1,716,393.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director L John Doerr sold 13,355 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $935.93, for a total transaction of $12,499,345.15. Following the sale, the director now directly owns 3,468 shares in the company, valued at $3,245,805.24. The disclosure for this sale can be found here. Insiders sold a total of 44,968 shares of company stock worth $42,387,042 over the last three months. 13.92% of the stock is owned by insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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