Alphabet Inc Class C (GOOG) Stake Lowered by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA lowered its holdings in Alphabet Inc Class C (NASDAQ:GOOG) by 27.5% in the first quarter, HoldingsChannel.com reports. The firm owned 416 shares of the information services provider’s stock after selling 158 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet Inc Class C were worth $423,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOG. Coldstream Capital Management Inc. grew its position in Alphabet Inc Class C by 32.4% during the third quarter. Coldstream Capital Management Inc. now owns 1,445 shares of the information services provider’s stock valued at $1,386,000 after acquiring an additional 354 shares during the period. Parallel Advisors LLC grew its position in Alphabet Inc Class C by 10.1% during the third quarter. Parallel Advisors LLC now owns 3,691 shares of the information services provider’s stock valued at $3,786,000 after acquiring an additional 339 shares during the period. TT International grew its position in Alphabet Inc Class C by 16.9% during the third quarter. TT International now owns 11,428 shares of the information services provider’s stock valued at $10,960,000 after acquiring an additional 1,656 shares during the period. Fieldpoint Private Securities LLC grew its position in Alphabet Inc Class C by 62.7% during the third quarter. Fieldpoint Private Securities LLC now owns 1,043 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 402 shares during the period. Finally, Independent Advisor Alliance grew its position in Alphabet Inc Class C by 42.8% during the third quarter. Independent Advisor Alliance now owns 6,463 shares of the information services provider’s stock valued at $6,314,000 after acquiring an additional 1,937 shares during the period. 34.13% of the stock is owned by institutional investors and hedge funds.

In other Alphabet Inc Class C news, VP James Grier Campbell sold 193 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $1,023.10, for a total transaction of $197,458.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $1,179.07, for a total value of $11,790,700.00. Following the sale, the chief executive officer now owns 587 shares in the company, valued at approximately $692,114.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,091 shares of company stock worth $71,488,556. Insiders own 13.11% of the company’s stock.

A number of equities research analysts have issued reports on the company. BidaskClub downgraded Alphabet Inc Class C from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet Inc Class C in a research report on Tuesday, April 10th. Vetr raised Alphabet Inc Class C from a “buy” rating to a “strong-buy” rating and set a $1,197.56 price target for the company in a research report on Monday, March 26th. Credit Suisse Group reissued a “buy” rating on shares of Alphabet Inc Class C in a research report on Friday, April 20th. Finally, Pivotal Research lowered their price target on Alphabet Inc Class C from $1,110.00 to $1,040.00 and set a “hold” rating for the company in a research report on Monday, April 2nd. Six investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,125.55.

Alphabet Inc Class C opened at $1,114.22 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.85 and a current ratio of 4.87. Alphabet Inc Class C has a one year low of $894.79 and a one year high of $1,186.89. The stock has a market capitalization of $767.21 billion, a P/E ratio of 34.77 and a beta of 1.10.

Alphabet Inc Class C (NASDAQ:GOOG) last released its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.28 by $0.65. Alphabet Inc Class C had a return on equity of 15.58% and a net margin of 14.19%. The business had revenue of $31.15 billion for the quarter, compared to analysts’ expectations of $30.28 billion. During the same quarter in the previous year, the firm posted $7.73 earnings per share. The company’s revenue was up 25.8% compared to the same quarter last year.

Alphabet Inc Class C Profile

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 Inc Class C (NASDAQ:GOOG)

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