Laurel Grove Capital LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,321 shares of the information services provider’s stock after selling 180 shares during the period. Alphabet accounts for about 3.5% of Laurel Grove Capital LLC’s portfolio, making the stock its 4th biggest position. Laurel Grove Capital LLC’s holdings in Alphabet were worth $6,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in Alphabet by 0.3% during the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after acquiring an additional 36,864 shares during the period. Legal & General Group Plc increased its stake in Alphabet by 4.3% during the 1st quarter. Legal & General Group Plc now owns 1,359,262 shares of the information services provider’s stock worth $1,127,590,000 after acquiring an additional 55,875 shares during the period. Sanders Capital LLC increased its stake in Alphabet by 37.1% during the 1st quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock worth $1,019,026,000 after acquiring an additional 324,596 shares during the period. Clearbridge Investments LLC increased its stake in Alphabet by 6.8% during the 1st quarter. Clearbridge Investments LLC now owns 943,421 shares of the information services provider’s stock worth $782,624,000 after acquiring an additional 59,992 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Alphabet by 3.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 894,797 shares of the information services provider’s stock worth $742,288,000 after acquiring an additional 32,062 shares during the period. Hedge funds and other institutional investors own 34.52% of the company’s stock.

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In related news, Director L John Doerr sold 13,556 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the completion of the sale, the director now owns 3,485 shares of the company’s stock, valued at $3,213,692.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,911 shares of the company’s stock, valued at approximately $1,727,276.46. The disclosure for this sale can be found here. Insiders have sold 42,680 shares of company stock valued at $39,700,363 in the last ninety days. Insiders own 13.92% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ GOOG) traded up 0.65% during mid-day trading on Tuesday, reaching $926.92. The company’s stock had a trading volume of 812,372 shares. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The company has a 50-day moving average of $924.03 and a 200-day moving average of $909.94. The company has a market cap of $642.24 billion, a P/E ratio of 33.59 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter last year, the firm earned $8.42 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

A number of research firms have commented on GOOG. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Thursday, July 27th. SunTrust Banks, Inc. assumed coverage on Alphabet in a research note on Wednesday, August 16th. They set a “buy” rating and a $1,100.00 price objective on the stock. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Alphabet in a research note on Saturday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $1,033.79.

Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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