Alphabet Inc. (GOOG) Position Reduced by Stonebridge Capital Advisors LLC
Stonebridge Capital Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.3% during the first quarter, Holdings Channel reports. The firm owned 2,095 shares of the information services provider’s stock after selling 95 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Alphabet were worth $1,738,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Alphabet during the fourth quarter valued at approximately $249,975,000. LeJeune Puetz Investment Counsel LLC purchased a new position in Alphabet during the fourth quarter valued at $1,979,000. Wall Street Access Asset Management LLC raised its position in Alphabet by 16.7% in the fourth quarter. Wall Street Access Asset Management LLC now owns 1,228 shares of the information services provider’s stock valued at $957,000 after buying an additional 176 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in Alphabet during the fourth quarter valued at $3,007,000. Finally, Pacific Center for Financial Services purchased a new position in Alphabet during the fourth quarter valued at $142,000. Institutional investors own 34.57% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.76% during midday trading on Thursday, hitting $919.96. The stock had a trading volume of 275,099 shares. The firm has a market capitalization of $637.42 billion, a PE ratio of 33.34 and a beta of 0.94. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The firm’s 50-day moving average price is $934.56 and its 200-day moving average price is $891.60.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same period last year, the company earned $8.42 EPS. The firm’s revenue was up 21.0% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.
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Several equities analysts have recently weighed in on GOOG shares. MKM Partners reaffirmed a “buy” rating and issued a $1,170.00 price objective on shares of Alphabet in a research note on Wednesday, June 28th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. Nomura reaffirmed a “buy” rating and issued a $985.00 price objective on shares of Alphabet in a research note on Monday, May 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research note on Thursday, August 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and forty have given a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average target price of $1,030.56.
In other Alphabet news, Director Ann Mather sold 629 shares of Alphabet stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $932.28, for a total transaction of $586,404.12. Following the transaction, the director now directly owns 1,781 shares in the company, valued at $1,660,390.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $926.79, for a total value of $3,707,160.00. Following the transaction, the chief executive officer now owns 1,389 shares in the company, valued at $1,287,311.31. The disclosure for this sale can be found here. Insiders sold a total of 47,169 shares of company stock worth $44,206,482 over the last 90 days. 13.92% of the stock is owned by corporate 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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