Acadian Asset Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,903 shares of the information services provider’s stock after selling 1,477 shares during the quarter. Alphabet comprises 0.8% of Acadian Asset Management LLC’s portfolio, making the stock its 27th biggest holding. Acadian Asset Management LLC’s holdings in Alphabet were worth $167,118,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Regentatlantic Capital LLC raised its holdings in Alphabet by 2.0% during the 1st quarter. Regentatlantic Capital LLC now owns 1,313 shares of the information services provider’s stock worth $1,089,000 after purchasing an additional 26 shares during the last quarter. Jacobs & Co. CA raised its holdings in Alphabet by 0.7% during the 1st quarter. Jacobs & Co. CA now owns 9,661 shares of the information services provider’s stock worth $8,014,000 after purchasing an additional 68 shares during the last quarter. TNB Financial bought a new stake in Alphabet during the 1st quarter worth about $11,222,000. Verde Servicos Internacionais S.A. raised its holdings in Alphabet by 36.2% during the 1st quarter. Verde Servicos Internacionais S.A. now owns 26,964 shares of the information services provider’s stock worth $22,368,000 after purchasing an additional 7,169 shares during the last quarter. Finally, Horan Capital Management raised its holdings in Alphabet by 7.4% during the 1st quarter. Horan Capital Management now owns 26,136 shares of the information services provider’s stock worth $21,681,000 after purchasing an additional 1,807 shares during the last quarter. 34.55% of the stock is owned by institutional investors and hedge funds.
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Shares of Alphabet Inc. (GOOG) traded down 0.52% on Friday, reaching $920.29. The company’s stock had a trading volume of 2,505,430 shares. The firm’s 50 day moving average is $925.04 and its 200-day moving average is $907.53. The stock has a market cap of $637.65 billion, a P/E ratio of 33.35 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 issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion for 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%. Alphabet’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company posted $8.42 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post $30.59 EPS for the current year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total value of $3,879,680.00. Following the sale, the chief executive officer now directly owns 1,536 shares in the company, valued at $1,489,797.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 629 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $932.28, for a total value of $586,404.12. Following the completion of the sale, the director now owns 1,781 shares in the company, valued at $1,660,390.68. The disclosure for this sale can be found here. Insiders have sold 46,680 shares of company stock worth $43,521,363 over the last quarter. 13.92% of the stock is currently owned by corporate insiders.
Several analysts have weighed in on GOOG shares. Citigroup Inc. reissued a “buy” rating and set a $1,180.00 price objective on shares of Alphabet in a report on Thursday, July 27th. Deutsche Bank AG reissued a “buy” rating on shares of Alphabet in a report on Monday, June 12th. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price objective for the company in a report on Monday, June 26th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Finally, Robert W. Baird reissued an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,031.14.
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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