Gabelli Funds LLC Sells 2,401 Shares of Alphabet Inc (GOOG)

Gabelli Funds LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOG) by 5.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,243 shares of the information services provider’s stock after selling 2,401 shares during the period. Gabelli Funds LLC’s holdings in Alphabet were worth $41,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Advisory Services LLC raised its holdings in shares of Alphabet by 0.4% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after acquiring an additional 1 shares in the last quarter. Capital Advantage Inc. raised its holdings in Alphabet by 0.4% during the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after buying an additional 1 shares during the period. Foster & Motley Inc. raised its holdings in Alphabet by 0.8% during the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after buying an additional 2 shares during the period. Saratoga Research & Investment Management raised its holdings in Alphabet by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock valued at $234,000 after buying an additional 3 shares during the period. Finally, Edge Wealth Management LLC raised its holdings in Alphabet by 0.9% during the 2nd quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock valued at $309,000 after buying an additional 3 shares during the period. 34.63% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Inc (GOOG) opened at $1,105.52 on Friday. Alphabet Inc has a 12-month low of $790.52 and a 12-month high of $1,111.27. 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 stock has a market capitalization of $770,720.00, a price-to-earnings ratio of 36.83 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. During the same quarter in the prior year, the company earned $9.06 EPS. The business’s revenue was up 23.7% compared to the same quarter last year.

Several analysts recently weighed in on GOOG shares. Deutsche Bank restated a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,067.64 price target on the stock. in a report on Monday, November 20th. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Finally, Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1,048.36.

In related news, Director L John Doerr sold 12,236 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total transaction of $12,499,930.52. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at approximately $3,560,171.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $1,065.21, for a total value of $4,260,840.00. Following the sale, the chief executive officer now owns 1,031 shares of the company’s stock, valued at $1,098,231.51. The disclosure for this sale can be found here. Insiders have sold a total of 36,900 shares of company stock worth $37,877,147 in the last three months. Corporate insiders own 13.92% of the company’s stock.

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About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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