Commerce Bank Sells 13 Shares of Alphabet Inc. (GOOG)
Commerce Bank decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,181 shares of the company’s stock after selling 13 shares during the period. Commerce Bank’s holdings in Alphabet were worth $28,502,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in Alphabet by 9.8% in the second quarter. Nordea Investment Management AB now owns 183,470 shares of the company’s stock valued at $126,980,000 after buying an additional 16,342 shares in the last quarter. Chesley Taft & Associates LLC increased its position in shares of Alphabet by 2.9% in the second quarter. Chesley Taft & Associates LLC now owns 32,171 shares of the company’s stock worth $22,266,000 after buying an additional 900 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in shares of Alphabet by 5.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 76,454 shares of the company’s stock worth $52,914,000 after buying an additional 4,102 shares during the period. AXA increased its position in shares of Alphabet by 3.8% in the first quarter. AXA now owns 290,480 shares of the company’s stock worth $216,393,000 after buying an additional 10,590 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in shares of Alphabet by 9.1% in the first quarter. Pictet Asset Management Ltd. now owns 218,770 shares of the company’s stock worth $152,651,000 after buying an additional 18,278 shares during the period. 34.39% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.15% during midday trading on Thursday, reaching $777.60. The company had a trading volume of 342,886 shares. Alphabet Inc. has a 1-year low of $625.56 and a 1-year high of $789.87. The company has a market capitalization of $534.42 billion, a P/E ratio of 30.13 and a beta of 1.03. The firm has a 50-day moving average of $773.30 and a 200 day moving average of $739.79.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating analysts’ consensus estimates of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. During the same period last year, the business posted $6.99 earnings per share. The firm’s revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post $34.30 EPS for the current year.
A number of research firms recently issued reports on GOOG. Citigroup Inc. reiterated a “buy” rating and set a $900.00 target price on shares of Alphabet in a research report on Saturday, June 18th. Stifel Nicolaus restated a “buy” rating and set a $925.00 price target (up previously from $888.00) on shares of Alphabet in a research note on Friday, July 29th. Longbow Research began coverage on shares of Alphabet in a research note on Wednesday, July 6th. They set a “buy” rating for the company. Macquarie restated an “outperform” rating and set a $975.00 price target on shares of Alphabet in a research note on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 price target on shares of Alphabet and gave the company a “buy” rating in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $926.55.
In other news, CEO Lawrence Page sold 33,340 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $800.75, for a total value of $26,697,005.00. Following the transaction, the chief executive officer now directly owns 105,670 shares of the company’s stock, valued at $84,615,252.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $739.21, for a total value of $2,956,840.00. Following the completion of the transaction, the chief executive officer now directly owns 3,297 shares in the company, valued at $2,437,175.37. The disclosure for this sale can be found here. 13.92% of the stock is owned by company insiders.
Alphabet Company Profile
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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