Pensionfund Sabic lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 27.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,700 shares of the information services provider’s stock after selling 1,400 shares during the quarter. Alphabet makes up approximately 1.1% of Pensionfund Sabic’s investment portfolio, making the stock its 15th largest position. Pensionfund Sabic’s holdings in Alphabet were worth $3,362,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of GOOG. Farmers National Bank lifted its holdings in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after acquiring an additional 21 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of Alphabet in the first quarter worth about $170,000. Pinnacle Bank bought a new position in shares of Alphabet in the first quarter worth about $181,000. Palo Capital Inc. bought a new position in shares of Alphabet in the first quarter worth about $202,000. Finally, BTC Capital Management Inc. bought a new position in shares of Alphabet in the first quarter worth about $209,000. 34.55% of the stock is owned by hedge funds and other institutional investors.
GOOG has been the subject of a number of research reports. Vetr raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $907.74 target price for the company in a report on Wednesday, May 17th. Robert W. Baird reiterated an “outperform” rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Friday, May 19th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Alphabet in a report on Monday, May 22nd. Aegis reiterated a “buy” rating on shares of Alphabet in a report on Monday, May 22nd. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,031.14.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.24% during midday trading on Wednesday, hitting $934.27. The stock had a trading volume of 528,535 shares. The company’s 50 day moving average price is $926.52 and its 200-day moving average price is $906.54. The stock has a market cap of $647.34 billion, a PE ratio of 33.86 and a beta of 0.94. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company posted $8.42 EPS. Analysts forecast that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
In other news, SVP David C. Drummond sold 1,496 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $939.76, for a total value of $1,405,880.96. Following the completion of the transaction, the senior vice president now directly owns 52 shares of the company’s stock, valued at approximately $48,867.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $955.25, for a total value of $3,821,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,683 shares of the company’s stock, valued at $1,607,685.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,680 shares of company stock valued at $43,521,363. Corporate insiders own 13.92% of the company’s stock.
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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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