Alphabet Inc. $GOOG is Violich Capital Management Inc.’s 2nd Largest Position

Violich Capital Management Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,553 shares of the information services provider’s stock after selling 32,020 shares during the quarter. Alphabet accounts for 8.2% of Violich Capital Management Inc.’s portfolio, making the stock its 2nd largest position. Violich Capital Management Inc.’s holdings in Alphabet were worth $58,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC raised its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC raised its position in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after acquiring an additional 1,899 shares in the last quarter. GAMMA Investing LLC raised its position in Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after acquiring an additional 14,931 shares in the last quarter. Spinnaker Investment Group LLC raised its position in Alphabet by 14.6% during the first quarter. Spinnaker Investment Group LLC now owns 2,588 shares of the information services provider’s stock valued at $404,000 after acquiring an additional 329 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in Alphabet by 14.7% during the first quarter. Brown Lisle Cummings Inc. now owns 31,634 shares of the information services provider’s stock valued at $4,942,000 after acquiring an additional 4,062 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOG. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Scotiabank reiterated an “outperform” rating and set a $310.00 price target on shares of Alphabet in a report on Thursday, October 16th. Finally, Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $246.26.

Alphabet Trading Down 2.2%

Shares of GOOG stock opened at $251.34 on Wednesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.88. The business’s 50 day moving average is $234.23 and its two-hundred day moving average is $194.41. The company has a market cap of $3.04 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.