Blue Investment Partners LLC Has $1.37 Million Stock Position in Alphabet Inc. $GOOG

Blue Investment Partners LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,693 shares of the information services provider’s stock after selling 467 shares during the period. Alphabet accounts for 0.5% of Blue Investment Partners LLC’s holdings, making the stock its 27th largest position. Blue Investment Partners LLC’s holdings in Alphabet were worth $1,365,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Deutsche Bank AG grew its stake in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after acquiring an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. increased its position in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after acquiring an additional 440,526 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.2%

Shares of GOOG opened at $285.34 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The firm has a market cap of $3.45 trillion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.86 and a beta of 1.05. The business’s fifty day moving average is $250.48 and its 200-day moving average is $204.23.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 189,896 shares of company stock worth $44,892,175 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a research note on Thursday, October 30th. Oppenheimer raised their price objective on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.