Alphabet Inc. (GOOG) Position Lowered by Sii Investments Inc. WI
Sii Investments Inc. WI reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 1,491 shares of the company’s stock after selling 80 shares during the period. Sii Investments Inc. WI’s holdings in Alphabet were worth $1,031,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Mesirow Financial Investment Management Equity Management bought a new position in Alphabet during the second quarter worth $121,000. Whitnell & Co. raised its position in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. raised its position in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the period. Pathstone Family Office LLC raised its position in Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock worth $154,000 after buying an additional 15 shares during the period. Finally, Cacti Asset Management LLC bought a new position in Alphabet during the second quarter worth $159,000. Institutional investors and hedge funds own 34.39% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 778.53 on Monday. 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 stock’s 50 day moving average price is $774.66 and its 200 day moving average price is $741.88.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.99 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
A number of equities research analysts have commented on the company. Sanford C. Bernstein set a $950.00 target price on Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. JMP Securities set a $928.00 target price on Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. Robert W. Baird set a $900.00 target price on Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group AG restated an “outperform” rating and issued a $940.00 target price (up previously from $920.00) on shares of Alphabet in a research report on Friday, July 29th. Finally, Atlantic Securities set a $910.00 target price on Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $926.55.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $781.81, for a total value of $3,127,240.00. Following the transaction, the chief executive officer now directly owns 3,231 shares of the company’s stock, valued at $2,526,028.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lawrence Page sold 33,332 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $748.02, for a total transaction of $24,933,002.64. Following the completion of the transaction, the chief executive officer now directly owns 30,666 shares in the company, valued at $22,938,781.32. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
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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