Alphabet Inc. (GOOGL) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,827 shares of the information services provider’s stock after selling 1,719 shares during the period. Alphabet accounts for approximately 2.4% of AMI Asset Management Corp’s investment portfolio, making the stock its 12th biggest position. AMI Asset Management Corp’s holdings in Alphabet were worth $34,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pure Financial Advisors Inc. grew its stake in Alphabet by 0.4% during the 2nd quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after acquiring an additional 1 shares in the last quarter. Delta Asset Management LLC TN grew its stake in Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares in the last quarter. RB Capital Management LLC grew its stake in Alphabet by 0.4% during the 2nd quarter. RB Capital Management LLC now owns 704 shares of the information services provider’s stock valued at $654,000 after acquiring an additional 3 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Alphabet by 0.7% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 422 shares of the information services provider’s stock valued at $392,000 after acquiring an additional 3 shares in the last quarter. Finally, Farmers National Bank grew its stake in Alphabet by 2.7% during the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 33.85% of the company’s stock.

GOOGL has been the subject of several research reports. Societe Generale set a $1,210.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,030.26 price objective for the company. in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Alphabet in a research note on Tuesday, July 4th. Aegis reaffirmed a “buy” rating and set a $1,090.00 price objective on shares of Alphabet in a research note on Monday, July 3rd. Finally, MKM Partners reaffirmed a “buy” rating and set a $1,170.00 price objective on shares of Alphabet in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, forty have given a buy rating and one has given a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,052.53.

TRADEMARK VIOLATION WARNING: This news story was posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.themarketsdaily.com/2017/10/10/alphabet-inc-googl-shares-sold-by-ami-asset-management-corp.html.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.48% during midday trading on Tuesday, hitting $987.51. 670,047 shares of the stock were exchanged. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The stock’s 50-day moving average price is $949.40 and its 200 day moving average price is $939.39. The stock has a market cap of $684.22 billion, a P/E ratio of 35.79 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the company posted $8.42 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.

Alphabet Profile

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply