Acadian Asset Management LLC cut its position in shares of Alphabet Inc Class C (NASDAQ:GOOG) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 124,060 shares of the information services provider’s stock after selling 10,741 shares during the period. Acadian Asset Management LLC’s holdings in Alphabet Inc Class C were worth $138,408,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Smart Portfolios LLC bought a new stake in Alphabet Inc Class C during the 1st quarter valued at about $103,000. Braun Bostich & Associates Inc. bought a new stake in Alphabet Inc Class C during the 1st quarter valued at about $107,000. Litman Gregory Asset Management LLC bought a new stake in Alphabet Inc Class C during the 1st quarter valued at about $113,000. WealthShield LLC bought a new stake in Alphabet Inc Class C during the 4th quarter valued at about $144,000. Finally, Stelac Advisory Services LLC bought a new stake in Alphabet Inc Class C during the 1st quarter valued at about $145,000. 34.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet Inc Class C stock opened at $1,164.83 on Monday. 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 52-week low of $909.70 and a 52-week high of $1,273.89. The company has a market capitalization of $810.66 billion, a PE ratio of 28.45 and a beta of 1.11.

Alphabet Inc Class C (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $32.13 billion. During the same quarter in the previous year, the firm earned $5.01 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year.

In other news, CAO Amie Thuener O’toole sold 80 shares of Alphabet Inc Class C stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total value of $95,504.00. Following the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $463,194.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 10,000 shares of Alphabet Inc Class C stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $1,179.07, for a total transaction of $11,790,700.00. Following the completion of the transaction, the chief executive officer now directly owns 587 shares in the company, valued at approximately $692,114.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,362 shares of company stock worth $105,376,354. Insiders own 13.11% of the company’s stock.

A number of equities research analysts recently weighed in on GOOG shares. BidaskClub upgraded shares of Alphabet Inc Class C from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet Inc Class C in a report on Monday, July 16th. Morgan Stanley restated a “buy” rating on shares of Alphabet Inc Class C in a report on Friday, May 18th. Nomura restated a “buy” rating on shares of Alphabet Inc Class C in a report on Wednesday, July 11th. Finally, Goldman Sachs Group restated a “$1,186.96” rating on shares of Alphabet Inc Class C in a report on Thursday, July 19th. Three investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Alphabet Inc Class C currently has an average rating of “Buy” and an average price target of $1,245.96.

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: NASDAQ Stock Market Explained

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

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