Rothschild Asset Management Inc. reduced its holdings in Alphabet Inc (NASDAQ:GOOG) by 34.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,630 shares of the information services provider’s stock after selling 7,601 shares during the quarter. Rothschild Asset Management Inc.’s holdings in Alphabet were worth $16,322,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. raised its holdings in shares of Alphabet by 8.6% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock worth $2,378,000 after purchasing an additional 168 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Alphabet by 349.3% during the first quarter. Point72 Asset Management L.P. now owns 38,146 shares of the information services provider’s stock valued at $39,359,000 after acquiring an additional 53,446 shares during the period. Cetera Advisors LLC raised its holdings in shares of 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 period. Bremer Trust National Association raised its holdings in shares of 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 period. Finally, DnB Asset Management AS raised its holdings in shares of 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 period. Institutional investors and hedge funds own 34.18% of the company’s stock.
In related news, CAO Amie Thuener O’toole sold 80 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total transaction of $95,504.00. Following the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $463,194.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 724 shares of the business’s stock in a transaction that occurred on Wednesday, July 25th. The shares were sold at an average price of $1,250.30, for a total transaction of $905,217.20. Following the transaction, the director now directly owns 442 shares in the company, valued at $552,632.60. The disclosure for this sale can be found here. Insiders have sold 78,370 shares of company stock worth $94,026,373 over the last ninety days. 13.11% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on GOOG shares. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Thursday, June 28th. Societe Generale restated a “buy” rating on shares of Alphabet in a report on Friday, July 6th. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 10th. Nomura restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 11th. Finally, Cowen boosted their price target on shares of Alphabet from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a report on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,311.71.
Shares of GOOG opened at $1,087.97 on Friday. Alphabet Inc has a 52 week low of $960.52 and a 52 week high of $1,273.89. The company has a market cap of $830.59 billion, a P/E ratio of 29.15 and a beta of 1.11. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 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 firm had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. During the same period in the previous year, the firm posted $5.01 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis.
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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