Logan Capital Management Inc. Has $10.15 Million Position in Alphabet Inc. (GOOG)
Logan Capital Management Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,241 shares of the information services provider’s stock after selling 529 shares during the period. Logan Capital Management Inc.’s holdings in Alphabet were worth $10,154,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Dodge & Cox bought a new stake in Alphabet during the fourth quarter worth approximately $2,387,502,000. Norges Bank bought a new stake in Alphabet during the fourth quarter worth approximately $2,128,163,000. Putnam Investments LLC increased its stake in Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock worth $844,967,000 after buying an additional 366,456 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Alphabet during the fourth quarter worth approximately $249,975,000. Finally, Bank of Montreal Can increased its stake in Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock worth $1,404,065,000 after buying an additional 181,085 shares during the period. 34.54% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ GOOG) traded up 0.82% during trading on Friday, reaching $914.72. 418,740 shares of the company traded hands. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The stock has a market capitalization of $633.79 billion, a PE ratio of 33.15 and a beta of 0.94. The firm has a 50 day moving average of $937.88 and a 200 day moving average of $888.43.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 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 for the quarter, compared to the consensus estimate of $25.61 billion. During the same period in the previous year, the firm earned $8.42 earnings per share. Alphabet’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.
A number of equities research analysts have commented on GOOG shares. Nomura reaffirmed a “buy” rating and issued a $985.00 target price on shares of Alphabet in a research report on Monday, May 1st. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, June 28th. Barclays PLC reaffirmed an “overweight” rating on shares of Alphabet in a research report on Monday, April 17th. Wedbush reaffirmed an “underperform” rating and issued a $725.00 target price (up previously from $700.00) on shares of Alphabet in a research report on Saturday, April 29th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, forty have given 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 $1,026.22.
In other Alphabet news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $903.86, for a total transaction of $3,615,440.00. Following the sale, the chief executive officer now owns 1,911 shares of the company’s stock, valued at $1,727,276.46. The disclosure for this sale can be found here. Insiders have sold 44,968 shares of company stock worth $42,387,042 over the last ninety days. 13.92% of the stock is owned by insiders.
Alphabet Company Profile
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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