Seaward Management Limited Partnership trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,959 shares of the information services provider’s stock after selling 1,056 shares during the period. Alphabet comprises 3.2% of Seaward Management Limited Partnership’s portfolio, making the stock its 3rd largest position. Seaward Management Limited Partnership’s holdings in Alphabet were worth $64,482,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of GOOG. Riggs Asset Managment Co. Inc. increased 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 period. Farmers National Bank increased 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 period. St. Johns Investment Management Company LLC increased 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 period. Cribstone Capital Management LLC increased its position in shares of Alphabet by 5.7% during the second 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 purchased a new position in shares of Alphabet during the second quarter valued at about $200,000. 34.50% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Ann Mather sold 37 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $940.67, for a total transaction of $34,804.79. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $1,682,858.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction on Monday, August 14th. The shares were sold at an average price of $931.32, for a total transaction of $1,862,640.00. Following the completion of the transaction, the senior vice president now owns 800 shares in the company, valued at $745,056. The disclosure for this sale can be found here. Insiders have sold 41,714 shares of company stock worth $39,425,705 in the last three months. Corporate insiders own 13.92% of the company’s stock.
A number of brokerages have weighed in on GOOG. Pivotal Research restated a “hold” rating and issued a $980.00 price objective (down previously from $990.00) on shares of Alphabet in a report on Monday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a report on Monday, July 17th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 19th. Deutsche Bank AG restated a “buy” rating and issued a $1,220.00 price objective on shares of Alphabet in a report on Friday, July 21st. Finally, Morgan Stanley restated an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $1,045.44.
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Shares of Alphabet Inc. (NASDAQ GOOG) traded down $3.19 during midday trading on Friday, reaching $1,028.07. 720,600 shares of the company’s stock traded hands, compared to its average volume of 1,500,613. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The firm has a market cap of $716,520.50, a PE ratio of 34.53 and a beta of 0.95. Alphabet Inc. has a twelve month low of $727.54 and a twelve month high of $1,048.39.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. During the same quarter in the prior year, the firm earned $9.06 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year.
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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