Handelsinvest Investeringsforvaltning lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,109 shares of the information services provider’s stock after selling 300 shares during the period. Alphabet makes up approximately 1.2% of Handelsinvest Investeringsforvaltning’s holdings, making the stock its 27th largest position. Handelsinvest Investeringsforvaltning’s holdings in Alphabet were worth $4,238,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Pacific Center for Financial Services bought a new position in shares of Alphabet during the fourth quarter worth $142,000. Feltz Wealth PLAN Inc. bought a new position in shares of Alphabet during the first quarter worth $170,000. Israel Discount Bank of New York GFN bought a new position in shares of Alphabet during the fourth quarter worth $166,000. Pinnacle Bank bought a new position in shares of Alphabet during the first quarter worth $181,000. Finally, Palo Capital Inc. bought a new position in shares of Alphabet during the first quarter worth $202,000. 34.54% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOG) opened at 914.39 on Friday. The stock’s 50 day moving average is $936.66 and its 200 day moving average is $889.11. The firm has a market cap of $633.56 billion, a PE ratio of 33.14 and a beta of 0.94. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. During the same period in the previous year, the business earned $8.42 EPS. Alphabet’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.
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Several equities analysts have commented on GOOG shares. MKM Partners reiterated a “buy” rating and set a $1,170.00 price objective on shares of Alphabet in a research report on Wednesday, June 28th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Nomura reissued a “buy” rating and issued a $985.00 target price on shares of Alphabet in a research note on Monday, May 1st. Cowen and Company reissued an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research note on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $1,026.22.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $937.92, for a total value of $3,751,680.00. Following the completion of the sale, the chief executive officer now directly owns 1,830 shares in the company, valued at approximately $1,716,393.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L John Doerr sold 13,355 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $935.93, for a total value of $12,499,345.15. Following the completion of the sale, the director now owns 3,468 shares of the company’s stock, valued at $3,245,805.24. The disclosure for this sale can be found here. Insiders have sold a total of 44,968 shares of company stock worth $42,387,042 over the last 90 days. 13.92% of the stock is owned by company 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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