Alphabet Inc (GOOG) is Prio Wealth Limited Partnership’s 2nd Largest Position

Prio Wealth Limited Partnership lessened its holdings in Alphabet Inc (NASDAQ:GOOG) by 2.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 62,220 shares of the information services provider’s stock after selling 1,328 shares during the quarter. Alphabet makes up about 3.4% of Prio Wealth Limited Partnership’s holdings, making the stock its 2nd largest holding. Prio Wealth Limited Partnership’s holdings in Alphabet were worth $69,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. lifted its position in shares of Alphabet by 349.3% in the 1st quarter. Point72 Asset Management L.P. now owns 38,146 shares of the information services provider’s stock worth $39,359,000 after purchasing an additional 53,446 shares during the period. Pinnacle Financial Partners Inc. lifted its position in Alphabet by 8.6% during the second quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock valued at $2,378,000 after acquiring an additional 168 shares during the last quarter. Cetera Advisors LLC lifted its position in Alphabet by 6.3% during the first quarter. Cetera Advisors LLC now owns 5,149 shares of the information services provider’s stock valued at $5,181,000 after acquiring an additional 303 shares during the last quarter. DnB Asset Management AS lifted its position in Alphabet by 6.2% during the second quarter. DnB Asset Management AS now owns 37,615 shares of the information services provider’s stock valued at $41,965,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Bremer Trust National Association lifted its position in Alphabet by 134.5% during the second quarter. Bremer Trust National Association now owns 4,068 shares of the information services provider’s stock valued at $4,539,000 after acquiring an additional 2,333 shares during the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on GOOG shares. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Thursday, June 28th. Societe Generale reissued a “buy” rating on shares of Alphabet in a research report on Friday, July 6th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, July 10th. Nomura reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 11th. Finally, Cowen increased their target price on shares of Alphabet from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Friday, July 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,311.71.

In other Alphabet news, VP Amie Thuener O’toole sold 80 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $1,190.96, for a total transaction of $95,276.80. Following the transaction, the vice president now owns 388 shares in the company, valued at approximately $462,092.48. 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 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $1,198.47, for a total transaction of $11,984,700.00. Following the transaction, the chief executive officer now owns 574 shares in the company, valued at approximately $687,921.78. The disclosure for this sale can be found here. Insiders have sold a total of 82,680 shares of company stock worth $99,664,675 in the last 90 days. 13.11% of the stock is currently owned by company insiders.

Shares of Alphabet stock opened at $1,110.08 on Friday. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 12-month low of $960.52 and a 12-month high of $1,273.89. The company has a market cap of $830.59 billion, a price-to-earnings ratio of 29.15 and a beta of 1.11.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $9.66 by $2.09. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $32.66 billion for the quarter, compared to analyst estimates of $32.13 billion. During the same quarter in the prior year, the business posted $5.01 EPS. Alphabet’s revenue for the quarter was up 25.6% compared to the same quarter last year.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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