Spinnaker Trust cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,327 shares of the information services provider’s stock after selling 505 shares during the quarter. Spinnaker Trust’s holdings in Alphabet were worth $3,932,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Harbour Capital Advisors LLC grew its holdings in Alphabet by 87,001.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after buying an additional 1,991,465 shares in the last quarter. Sanders Capital LLC grew its holdings in Alphabet by 37.1% in the 1st quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock valued at $1,019,026,000 after buying an additional 324,596 shares in the last quarter. Pictet Asset Management Ltd. grew its holdings in Alphabet by 35.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 422,437 shares of the information services provider’s stock valued at $350,437,000 after buying an additional 111,292 shares in the last quarter. Arthur M. Cohen & Associates LLC acquired a new position in Alphabet in the 2nd quarter valued at $4,914,000. Finally, Karp Capital Management Corp acquired a new position in Alphabet in the 1st quarter valued at $82,519,000. 34.53% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on the company. UBS AG reaffirmed a “buy” rating and issued a $1,080.00 price objective on shares of Alphabet in a report on Tuesday, July 25th. Barclays PLC reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $1,034.31.
In related news, Director Ann Mather sold 37 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $940.67, for a total value of $34,804.79. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $1,682,858.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $958.40, for a total value of $3,833,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 40,694 shares of company stock worth $38,042,264 over the last three months. Insiders own 13.92% of the company’s stock.
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Shares of Alphabet Inc. (GOOG) opened at 972.60 on Wednesday. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The firm has a 50-day moving average price of $936.57 and a 200-day moving average price of $922.23. The stock has a market capitalization of $673.89 billion, a P/E ratio of 35.25 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.42 EPS. On average, analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.
Alphabet Company 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.
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