Great West Life Assurance Co. Can cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,790 shares of the information services provider’s stock after selling 11,961 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Alphabet were worth $203,122,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the period. Farmers National Bank lifted its holdings in shares of Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the period. St. Johns Investment Management Company LLC lifted its holdings in shares of Alphabet by 1,046.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the period. Cribstone Capital Management LLC lifted its holdings in shares of Alphabet by 5.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock valued at $167,000 after buying an additional 10 shares during the period. Finally, Baker Boyer National Bank bought a new position in shares of Alphabet during the 2nd quarter valued at $200,000. 34.53% of the stock is currently owned by institutional investors and hedge funds.
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GOOG has been the topic of several research analyst reports. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target on the stock. in a report on Thursday, June 15th. They noted that the move was a valuation call. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $980.86 price target on the stock in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. MKM Partners reaffirmed a “buy” rating and issued a $1,170.00 target price on shares of Alphabet in a report on Wednesday, June 28th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $1,200.00 target price on shares of Alphabet in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have given a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,034.31.
Alphabet Inc. (NASDAQ GOOG) opened at 972.60 on Wednesday. The company has a 50 day moving average of $936.57 and a 200-day moving average of $922.23. The stock has a market capitalization of $673.89 billion, a P/E ratio of 35.25 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 posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the company posted $8.42 earnings per share. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
In other Alphabet news, Director Shirley M. Tilghman sold 525 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $938.09, for a total transaction of $492,497.25. Following the sale, the director now directly owns 5,517 shares of the company’s stock, valued at $5,175,442.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 40,694 shares of company stock worth $38,042,264 over the last ninety days. 13.92% of the stock is currently owned by corporate insiders.
Alphabet Company Profile
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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