Boston Common Asset Management LLC trimmed its position in Alphabet Inc (NASDAQ:GOOG) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,372 shares of the information services provider’s stock after selling 1,491 shares during the quarter. Alphabet comprises approximately 2.1% of Boston Common Asset Management LLC’s holdings, making the stock its 8th largest position. Boston Common Asset Management LLC’s holdings in Alphabet were worth $17,153,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of GOOG. Ironwood Financial llc raised its stake in Alphabet by 111.1% during the 3rd quarter. Ironwood Financial llc now owns 95 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 50 shares during the last quarter. Patton Albertson Miller Group LLC acquired a new position in Alphabet during the 3rd quarter valued at $116,000. JJJ Advisors Inc. acquired a new position in Alphabet during the 2nd quarter valued at $134,000. ELM Advisors LLC acquired a new position in Alphabet during the 3rd quarter valued at $138,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Alphabet during the 3rd quarter valued at $161,000. Institutional investors and hedge funds own 36.93% of the company’s stock.
Shares of GOOG stock opened at $1,076.28 on Wednesday. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,273.89. The firm has a market capitalization of $745.08 billion, a PE ratio of 24.09 and a beta of 1.07. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The company had revenue of $27.16 billion during the quarter.
In other news, Director Ann Mather sold 194 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $1,120.68, for a total value of $217,411.92. Following the sale, the director now owns 1,797 shares of the company’s stock, valued at approximately $2,013,861.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Amie Thuener O’toole sold 80 shares of the company’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $1,041.00, for a total transaction of $83,280.00. Following the completion of the sale, the vice president now directly owns 388 shares in the company, valued at approximately $403,908. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,410 shares of company stock worth $94,794,342. 13.11% of the stock is owned by insiders.
Several equities analysts recently commented on the stock. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. Wedbush assumed coverage on shares of Alphabet in a research note on Wednesday, October 17th. They set an “outperform” rating for the company. Canaccord Genuity cut their target price on shares of Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating for the company in a research note on Friday, October 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research note on Monday, September 24th. Finally, Piper Jaffray Companies cut their target price on shares of Alphabet to $1,250.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirty have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $1,301.81.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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