Zweig DiMenna Associates LLC Has $18,898,000 Stake in Alphabet Inc. (GOOG)
Zweig DiMenna Associates LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 36.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 27,305 shares of the company’s stock after selling 15,674 shares during the period. Alphabet makes up about 1.9% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 16th largest position. Zweig DiMenna Associates LLC’s holdings in Alphabet were worth $18,898,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of Alphabet by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,693,848 shares of the company’s stock worth $5,731,532,000 after buying an additional 37,063 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 4.7% in the first quarter. Geode Capital Management LLC now owns 2,608,164 shares of the company’s stock worth $1,939,281,000 after buying an additional 117,556 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Alphabet by 11.2% in the second quarter. Ameriprise Financial Inc. now owns 1,768,501 shares of the company’s stock worth $1,223,977,000 after buying an additional 178,739 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Alphabet by 1.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,365,990 shares of the company’s stock worth $1,017,595,000 after buying an additional 24,169 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Alphabet during the second quarter worth approximately $927,982,000. 34.39% of the stock is owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.29% during mid-day trading on Friday, hitting $777.29. 1,585,333 shares of the stock traded hands. The stock has a 50-day moving average of $773.79 and a 200-day moving average of $738.90. Alphabet Inc. has a 52 week low of $625.56 and a 52 week high of $789.87. The company has a market cap of $534.21 billion, a price-to-earnings ratio of 30.12 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.99 earnings per share. Analysts anticipate that Alphabet Inc. will post $34.30 EPS for the current year.
A number of equities research analysts have recently issued reports on GOOG shares. Credit Agricole SA restated a “buy” rating on shares of Alphabet in a research report on Friday, September 23rd. Moffett Nathanson restated a “buy” rating and issued a $925.00 price target on shares of Alphabet in a research report on Friday, September 23rd. Wedbush lowered Alphabet from a “neutral” rating to an “underperform” rating and upped their price target for the company from $700.00 to $800.00 in a research report on Tuesday, September 27th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $822.37 price target for the company in a research report on Thursday, August 18th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $1,025.00 price target (up from $1,000.00) on shares of Alphabet in a research report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $925.99.
In related news, VP James Grier Campbell sold 603 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total transaction of $462,609.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 115 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $769.38, for a total transaction of $88,478.70. Following the sale, the director now owns 1,656 shares of the company’s stock, valued at $1,274,093.28. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by insiders.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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