EFG Asset Management Americas Corp. Sells 1,336 Shares of Alphabet Inc (NASDAQ:GOOG)

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EFG Asset Management Americas Corp. decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 27.1% during the second quarter, HoldingsChannel reports. The fund owned 3,601 shares of the information services provider’s stock after selling 1,336 shares during the quarter. Alphabet comprises about 1.3% of EFG Asset Management Americas Corp.’s investment portfolio, making the stock its 26th biggest holding. EFG Asset Management Americas Corp.’s holdings in Alphabet were worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Chelsea Counsel Co. increased its stake in shares of Alphabet by 6.4% during the first quarter. Chelsea Counsel Co. now owns 4,759 shares of the information services provider’s stock valued at $5,534,000 after purchasing an additional 285 shares in the last quarter. Adams Asset Advisors LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $1,484,000. Telemus Capital LLC increased its stake in shares of Alphabet by 2.6% during the second quarter. Telemus Capital LLC now owns 7,909 shares of the information services provider’s stock valued at $12,193,000 after purchasing an additional 198 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Alphabet by 314.1% during the first quarter. Mackenzie Financial Corp now owns 39,509 shares of the information services provider’s stock valued at $45,941,000 after purchasing an additional 29,967 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Alphabet by 34.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 65,569 shares of the information services provider’s stock valued at $76,244,000 after purchasing an additional 16,640 shares in the last quarter. 32.91% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Friday. Credit Suisse Group reiterated a “buy” rating on shares of Alphabet in a report on Friday. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a report on Friday. Cowen increased their price target on shares of Alphabet from $1,450.00 to $1,525.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Susquehanna Bancshares increased their price target on shares of Alphabet from $1,550.00 to $1,800.00 in a report on Wednesday, April 29th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $1,671.00.

In other news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the sale, the director now directly owns 592 shares in the company, valued at approximately $807,257.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 32 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the sale, the director now owns 1,119 shares in the company, valued at $1,587,178.41. The disclosure for this sale can be found here. Insiders have sold a total of 212 shares of company stock worth $303,047 over the last 90 days. Insiders own 12.99% of the company’s stock.

Shares of Alphabet stock traded down $48.49 on Friday, hitting $1,482.96. 3,429,036 shares of the company’s stock were exchanged, compared to its average volume of 1,408,813. The company has a 50-day simple moving average of $1,474.19 and a 200-day simple moving average of $1,377.20. The stock has a market capitalization of $1,012.30 billion, a PE ratio of 32.61, a PEG ratio of 2.34 and a beta of 1.05. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,586.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. On average, analysts expect that Alphabet Inc will post 42.07 EPS for the current fiscal year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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