Spectrum Asset Management Inc. NB CA reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 618 shares of the information services provider’s stock after selling 5 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet were worth $513,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Cambridge Advisors Inc. increased its stake in Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock valued at $226,000 after buying an additional 1 shares during the last quarter. Howland Capital Management LLC increased its stake in Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock valued at $528,000 after buying an additional 2 shares during the last quarter. Lederer & Associates Investment Counsel CA boosted its position in shares of Alphabet by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock valued at $905,000 after buying an additional 4 shares during the period. CGOV Asset Management boosted its position in shares of Alphabet by 0.4% in the first quarter. CGOV Asset Management now owns 1,405 shares of the information services provider’s stock valued at $1,553,000 after buying an additional 5 shares during the period. Finally, Naples Global Advisors LLC boosted its position in shares of Alphabet by 0.7% in the first quarter. Naples Global Advisors LLC now owns 690 shares of the information services provider’s stock valued at $572,000 after buying an additional 5 shares during the period. 34.57% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOG) traded down 0.03% during midday trading on Friday, hitting $910.67. 1,342,689 shares of the company traded hands. The firm has a market capitalization of $630.98 billion, a PE ratio of 33.00 and a beta of 0.94. The stock’s 50-day moving average is $933.52 and its 200-day moving average is $892.51. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter last year, the company posted $8.42 EPS. Alphabet’s quarterly revenue was up 21.0% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post $30.60 EPS for the current fiscal year.
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Several brokerages recently issued reports on GOOG. UBS AG restated a “buy” rating and issued a $1,050.00 price target (up previously from $980.00) on shares of Alphabet in a research report on Friday, April 28th. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,034.88 target price on the stock. in a research report on Wednesday. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $1,000.00 target price on shares of Alphabet in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and forty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,030.56.
In other Alphabet news, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,389 shares in the company, valued at $1,287,311.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,169 shares of company stock worth $44,206,482. 13.92% of the stock is owned by insiders.
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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