Smith Asset Management Group LP Has $22,450,000 Position in Alphabet Inc. (GOOG)
Smith Asset Management Group LP lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,437 shares of the company’s stock after selling 107 shares during the period. Smith Asset Management Group LP’s holdings in Alphabet were worth $22,450,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. Verde Servicos Internacionais S.A. increased its stake in Alphabet by 12.1% in the first quarter. Verde Servicos Internacionais S.A. now owns 79,748 shares of the company’s stock worth $59,408,000 after buying an additional 8,583 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in Alphabet during the first quarter worth approximately $5,095,000. Sarasin & Partners LLP increased its stake in Alphabet by 1.7% in the first quarter. Sarasin & Partners LLP now owns 300,799 shares of the company’s stock worth $224,080,000 after buying an additional 5,152 shares during the last quarter. Commonwealth Equity Services Inc increased its stake in Alphabet by 13.6% in the first quarter. Commonwealth Equity Services Inc now owns 36,401 shares of the company’s stock worth $27,117,000 after buying an additional 4,346 shares during the last quarter. Finally, River Wealth Advisors LLC increased its stake in Alphabet by 4.0% in the first quarter. River Wealth Advisors LLC now owns 1,543 shares of the company’s stock worth $1,150,000 after buying an additional 60 shares during the last quarter. 34.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% during mid-day trading on Friday, hitting $778.53. The company had a trading volume of 852,487 shares. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28. The firm has a market cap of $535.06 billion, a PE ratio of 30.17 and a beta of 1.03. The firm’s 50 day moving average is $774.66 and its 200-day moving average is $741.88.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.99 earnings per share. On average, equities analysts expect that Alphabet Inc. will post $34.14 EPS for the current year.
A number of analysts have commented on the company. 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 reiterated a “buy” rating and set a $925.00 target price (up from $888.00) on shares of Alphabet in a research report on Friday, July 29th. Longbow Research assumed coverage on Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating on the stock. Macquarie reiterated an “outperform” rating and set a $975.00 target price on shares of Alphabet in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $926.55.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $781.81, for a total transaction of $3,127,240.00. Following the transaction, the chief executive officer now directly owns 3,231 shares in the company, valued at $2,526,028.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Grier Campbell sold 603 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total value of $462,609.54. The disclosure for this sale can be found here. 13.92% of the stock is owned by 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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