Alphabet Inc. $GOOG Shares Sold by General American Investors Co. Inc.

General American Investors Co. Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 294,923 shares of the information services provider’s stock after selling 105,000 shares during the period. Alphabet makes up about 3.4% of General American Investors Co. Inc.’s investment portfolio, making the stock its 7th largest holding. General American Investors Co. Inc.’s holdings in Alphabet were worth $52,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. ACT Advisors LLC. lifted its holdings in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC lifted its holdings in Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management lifted its holdings in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates lifted its holdings in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after purchasing an additional 56 shares during the period. Finally, Greenup Street Wealth Management LLC lifted its holdings in Alphabet by 0.5% in the second quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock worth $2,068,000 after purchasing an additional 56 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOG opened at $281.90 on Friday. The stock has a market capitalization of $3.41 trillion, a P/E ratio of 27.80, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The business’s fifty day moving average is $243.09 and its two-hundred day moving average is $199.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOG shares. Pivotal Research upped their price objective on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a report on Thursday. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, UBS Group reiterated a “neutral” rating on shares of Alphabet in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $324.81.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is owned by company insiders.

About Alphabet

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.