Bailard Inc. Cuts Stake in Alphabet Inc (NASDAQ:GOOG)

Bailard Inc. reduced its stake in Alphabet Inc (NASDAQ:GOOG) by 0.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 6,886 shares of the information services provider’s stock after selling 31 shares during the quarter. Bailard Inc.’s holdings in Alphabet were worth $8,394,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Orrstown Financial Services Inc. bought a new stake in Alphabet in the 3rd quarter valued at about $26,000. HMS Capital Management LLC bought a new stake in Alphabet in the 2nd quarter valued at about $38,000. Vista Private Wealth Partners. LLC bought a new stake in Alphabet in the 3rd quarter valued at about $46,000. First PREMIER Bank raised its stake in Alphabet by 44.4% in the 3rd quarter. First PREMIER Bank now owns 52 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 16 shares during the period. Finally, Permanens Capital L.P. raised its stake in Alphabet by 180.0% in the 2nd quarter. Permanens Capital L.P. now owns 70 shares of the information services provider’s stock valued at $76,000 after acquiring an additional 45 shares during the period. 33.82% of the stock is currently owned by institutional investors.

In other news, Director Ann Mather sold 25 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $1,219.01, for a total transaction of $30,475.25. Following the completion of the transaction, the director now owns 1,816 shares of the company’s stock, valued at $2,213,722.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amie Thuener O’toole sold 55 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $1,200.74, for a total value of $66,040.70. Following the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $465,887.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,391 shares of company stock worth $6,502,992. Company insiders own 12.99% of the company’s stock.

Shares of GOOG opened at $1,245.49 on Friday. The business’s 50-day moving average price is $1,215.34 and its 200-day moving average price is $1,173.56. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,289.27. The stock has a market cap of $868.87 billion, a PE ratio of 24.13, a P/E/G ratio of 1.47 and a beta of 0.99. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. During the same period in the prior year, the business posted $11.75 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Analysts expect that Alphabet Inc will post 51.42 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the company. Wedbush boosted their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Oppenheimer boosted their price objective on Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Friday. Bank of America restated a “buy” rating and issued a $1,450.00 price objective (up from $1,350.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,378.33.

About Alphabet

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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