Wells Fargo & Company MN Sells 11,045 Shares of Alphabet Inc (NASDAQ:GOOG)

Wells Fargo & Company MN decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 0.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,719,523 shares of the information services provider’s stock after selling 11,045 shares during the period. Alphabet accounts for 0.5% of Wells Fargo & Company MN’s portfolio, making the stock its 23rd largest position. Wells Fargo & Company MN’s holdings in Alphabet were worth $1,858,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. First Bank & Trust boosted its holdings in Alphabet by 0.8% in the second quarter. First Bank & Trust now owns 1,025 shares of the information services provider’s stock worth $1,108,000 after purchasing an additional 8 shares during the last quarter. Central Bank & Trust Co. boosted its holdings in Alphabet by 3.1% in the second quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock worth $319,000 after purchasing an additional 9 shares during the last quarter. Telos Capital Management Inc. boosted its holdings in Alphabet by 1.0% in the second quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock worth $996,000 after purchasing an additional 9 shares during the last quarter. Tarbox Family Office Inc. boosted its holdings in Alphabet by 6.8% in the second quarter. Tarbox Family Office Inc. now owns 141 shares of the information services provider’s stock worth $152,000 after purchasing an additional 9 shares during the last quarter. Finally, Aveo Capital Partners LLC boosted its holdings in Alphabet by 3.1% in the second quarter. Aveo Capital Partners LLC now owns 298 shares of the information services provider’s stock worth $339,000 after purchasing an additional 9 shares during the last quarter. 34.00% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the stock. Cowen raised their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Pivotal Research assumed coverage on shares of Alphabet in a report on Wednesday, May 29th. They issued a “hold” rating on the stock. Wedbush raised their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Credit Suisse Group lifted their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price target on the stock. in a research note on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,378.93.

In other news, Director Ann Mather sold 27 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $1,213.14, for a total transaction of $32,754.78. Following the sale, the director now directly owns 1,803 shares in the company, valued at approximately $2,187,291.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 69 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total transaction of $71,960.10. Following the sale, the chief accounting officer now owns 388 shares in the company, valued at $404,645.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,123 shares of company stock worth $2,553,758 over the last 90 days. Insiders own 12.99% of the company’s stock.

Shares of Alphabet stock traded down $38.24 on Friday, hitting $1,151.29. 1,406,965 shares of the company’s stock were exchanged, compared to its average volume of 1,670,480. The company has a 50-day simple moving average of $1,170.92 and a 200-day simple moving average of $1,156.17. The stock has a market capitalization of $826.01 billion, a PE ratio of 24.23, a PEG ratio of 1.31 and a beta of 0.96. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $11.75 EPS. On average, analysts expect that Alphabet Inc will post 52.1 EPS for the current fiscal year.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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