Essex Financial Services Inc. decreased its holdings in Alphabet Inc (NASDAQ:GOOG) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,900 shares of the information services provider’s stock after selling 107 shares during the quarter. Alphabet makes up about 0.9% of Essex Financial Services Inc.’s investment portfolio, making the stock its 29th largest position. Essex Financial Services Inc.’s holdings in Alphabet were worth $3,740,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Vanguard Group Inc. increased its stake in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after buying an additional 589,654 shares during the period. BlackRock Inc. grew its stake in shares of Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after purchasing an additional 826,480 shares during the period. FMR LLC grew its stake in shares of Alphabet by 0.4% during the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after purchasing an additional 62,507 shares during the period. Capital World Investors grew its stake in shares of Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after purchasing an additional 776,853 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Alphabet by 3.2% during the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after purchasing an additional 155,151 shares during the period. Hedge funds and other institutional investors own 34.65% of the company’s stock.
Shares of Alphabet Inc (GOOG) opened at $1,137.51 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The stock has a market capitalization of $784,979.25, a P/E ratio of 37.82 and a beta of 0.93. Alphabet Inc has a 52 week low of $790.52 and a 52 week high of $1,139.91.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.06 earnings per share.
A number of brokerages recently commented on GOOG. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a research note on Friday. SunTrust Banks lifted their price objective on Alphabet to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a research note on Wednesday, January 10th. Finally, BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,052.31.
In other Alphabet news, Director L John Doerr sold 12,236 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the sale, the director now owns 3,485 shares in the company, valued at $3,560,171.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $186,149.43. The disclosure for this sale can be found here. Insiders sold 36,900 shares of company stock worth $38,411,507 in the last 90 days. Corporate insiders own 13.92% of the company’s stock.
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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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