Gilman Hill Asset Management LLC decreased its position in Alphabet Inc Class C (NASDAQ:GOOG) by 11.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 681 shares of the information services provider’s stock after selling 90 shares during the period. Gilman Hill Asset Management LLC’s holdings in Alphabet Inc Class C were worth $760,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GOOG. HC Financial Advisors Inc. bought a new stake in Alphabet Inc Class C in the 4th quarter valued at $1,156,000. MayTech Global Investments LLC bought a new stake in Alphabet Inc Class C in the 4th quarter valued at $8,463,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Alphabet Inc Class C in the 4th quarter valued at $211,000. KHP Capital LLC bought a new stake in Alphabet Inc Class C in the 4th quarter valued at $211,000. Finally, HRT Financial LLC bought a new stake in Alphabet Inc Class C in the 4th quarter valued at $2,087,000. 34.31% of the stock is owned by institutional investors.

Shares of NASDAQ:GOOG opened at $1,164.83 on Friday. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. Alphabet Inc Class C has a one year low of $909.70 and a one year high of $1,273.89. The stock has a market cap of $815.26 billion, a price-to-earnings ratio of 28.61 and a beta of 1.11.

Alphabet Inc Class C (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping the consensus estimate of $9.66 by $2.09. Alphabet Inc Class C had a net margin of 13.16% and a return on equity of 18.24%. The firm had revenue of $32.66 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same period in the previous year, the firm posted $5.01 EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis.

Several research firms recently commented on GOOG. Oppenheimer reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a research report on Wednesday, July 25th. Cowen boosted their price objective on shares of Alphabet Inc Class C from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Friday, July 13th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a research report on Tuesday, July 24th. Barclays reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a research report on Monday, August 20th. Finally, UBS Group reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a research report on Tuesday, July 24th. Three equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Alphabet Inc Class C presently has a consensus rating of “Buy” and a consensus target price of $1,245.96.

In other news, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $1,136.05, for a total value of $6,464,124.50. Following the sale, the senior vice president now directly owns 39,911 shares of the company’s stock, valued at approximately $45,340,891.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $1,179.07, for a total transaction of $11,790,700.00. Following the completion of the sale, the chief executive officer now directly owns 587 shares in the company, valued at $692,114.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,362 shares of company stock worth $105,376,354. 13.11% of the stock is owned by insiders.

Alphabet Inc Class C Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Alphabet Inc Class C (NASDAQ:GOOG)

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