Gamble Jones Investment Counsel cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,068 shares of the information services provider’s stock after selling 190 shares during the period. Alphabet makes up 1.1% of Gamble Jones Investment Counsel’s investment portfolio, making the stock its 18th biggest holding. Gamble Jones Investment Counsel’s holdings in Alphabet were worth $10,057,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GOOG. Riggs Asset Managment Co. Inc. raised its position in shares of Alphabet by 39.6% during the second 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 last quarter. Farmers National Bank raised its position in shares of Alphabet by 15.0% during the first 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 last quarter. St. Johns Investment Management Company LLC raised its position in shares of Alphabet by 1,046.7% during the second 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 last quarter. Cribstone Capital Management LLC raised its position in Alphabet by 5.7% in the second quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after purchasing an additional 10 shares in the last quarter. Finally, Baker Boyer National Bank acquired a new position in Alphabet in the second quarter worth about $200,000. Hedge funds and other institutional investors own 34.50% of the company’s stock.
Alphabet Inc. (GOOG) opened at 972.56 on Friday. The company’s 50-day moving average is $954.17 and its 200-day moving average is $933.86. The firm has a market capitalization of $673.87 billion, a PE 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 $997.21.
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 consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the business earned $9.06 earnings per share. Analysts forecast that Alphabet Inc. will post $30.63 EPS for the current fiscal year.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $930.46, for a total transaction of $3,721,840.00. Following the sale, the chief executive officer now owns 1,764 shares in the company, valued at approximately $1,641,331.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Mather sold 629 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $932.28, for a total transaction of $586,404.12. Following the sale, the director now owns 1,781 shares in the company, valued at approximately $1,660,390.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,169 shares of company stock worth $37,644,407. 13.92% of the stock is currently owned by company insiders.
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Several research analysts recently issued reports on the stock. Pivotal Research reissued a “hold” rating and issued a $980.00 price target (down previously from $990.00) on shares of Alphabet in a research report on Monday, July 17th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Canaccord Genuity reaffirmed a “hold” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Thursday, July 27th. Finally, B. Riley reaffirmed 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $1,036.51.
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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