Condor Capital Management lessened its stake in Alphabet Inc (NASDAQ:GOOG) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,677 shares of the information services provider’s stock after selling 46 shares during the quarter. Condor Capital Management’s holdings in Alphabet were worth $1,871,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smart Portfolios LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $103,000. Braun Bostich & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $107,000. Litman Gregory Asset Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $113,000. JJJ Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at approximately $134,000. Finally, Stelac Advisory Services LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $145,000. Hedge funds and other institutional investors own 34.20% of the company’s stock.
In other Alphabet news, CAO Amie Thuener O’toole sold 80 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $1,193.80, for a total value of $95,504.00. Following the sale, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $463,194.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 24 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $1,100.00, for a total value of $26,400.00. Following the completion of the sale, the director now directly owns 1,870 shares in the company, valued at $2,057,000. The disclosure for this sale can be found here. Insiders have sold 88,362 shares of company stock worth $105,424,908 over the last 90 days. 13.11% of the stock is currently owned by company insiders.
Shares of GOOG opened at $1,194.64 on Friday. Alphabet Inc has a 12-month low of $940.55 and a 12-month high of $1,273.89. The firm has a market cap of $824.45 billion, a P/E ratio of 28.93 and a beta of 1.11. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.66 by $2.09. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. The firm had revenue of $32.66 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same period last year, the business posted $5.01 earnings per share. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis.
Several research firms have recently commented on GOOG. Macquarie reiterated a “buy” rating on shares of Alphabet in a research note on Thursday. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research note on Monday. Finally, Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Friday, September 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,289.09.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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