RiverPoint Capital Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,325 shares of the information services provider’s stock after selling 454 shares during the period. RiverPoint Capital Management LLC’s holdings in Alphabet were worth $12,109,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Harbour Capital Advisors LLC increased its holdings in shares of Alphabet by 87,001.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after acquiring an additional 1,991,465 shares during the last quarter. Sanders Capital LLC increased its holdings in shares of Alphabet by 37.1% in the 1st quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock valued at $1,019,026,000 after acquiring an additional 324,596 shares during the last quarter. Pictet Asset Management Ltd. increased its holdings in shares of Alphabet by 35.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 422,437 shares of the information services provider’s stock valued at $350,437,000 after acquiring an additional 111,292 shares during the last quarter. Arthur M. Cohen & Associates LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $4,914,000. Finally, Karp Capital Management Corp bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $82,519,000. 34.28% of the stock is currently owned by institutional investors.
Alphabet Inc. (GOOG) opened at $1,032.50 on Friday. Alphabet Inc. has a twelve month low of $737.02 and a twelve month high of $1,048.39. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $709,329.31, a P/E ratio of 34.18 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same period in the prior year, the firm posted $9.06 EPS. Alphabet’s quarterly revenue was up 23.7% compared to the same quarter last year.
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A number of brokerages have recently weighed in on GOOG. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Finally, B. Riley restated a “buy” rating and set a $1,050.00 price objective (up from $1,032.00) on shares of Alphabet in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirty-nine have given a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,047.52.
In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $924.36, for a total transaction of $3,697,440.00. Following the completion of the sale, the chief executive officer now directly owns 1,324 shares of the company’s stock, valued at approximately $1,223,852.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $933.08, for a total value of $170,753.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,158 shares of company stock valued at $25,437,999. 13.92% of the stock is currently owned by insiders.
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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