Alphabet Inc. $GOOG Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 140,236 shares of the information services provider’s stock after selling 12,581 shares during the quarter. Alphabet makes up about 1.2% of Logan Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position. Logan Capital Management Inc.’s holdings in Alphabet were worth $24,876,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC boosted its stake in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Nuveen LLC purchased a new position in shares of Alphabet during the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new position in Alphabet during the first quarter worth approximately $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $297.56.

Alphabet Trading Up 2.5%

Shares of GOOG opened at $275.17 on Thursday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $275.97. The stock’s 50-day moving average is $241.46 and its two-hundred day moving average is $199.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.33 trillion, a PE ratio of 29.30, a P/E/G ratio of 1.81 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $2.12 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.