Select Equity Group L.P. Has $60.35 Million Position in Alphabet Inc (GOOG)
Select Equity Group L.P. lessened its position in shares of Alphabet Inc (NASDAQ:GOOG) by 39.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,091 shares of the information services provider’s stock after selling 34,627 shares during the period. Select Equity Group L.P.’s holdings in Alphabet were worth $60,347,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. Braun Bostich & Associates Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $107,000. JJJ Advisors Inc. purchased a new position in Alphabet in the 2nd quarter worth approximately $134,000. Stelac Advisory Services LLC purchased a new position in Alphabet in the 1st quarter worth approximately $145,000. Well Done LLC purchased a new position in Alphabet in the 1st quarter worth approximately $176,000. Finally, Blackhawk Capital Partners LLC. grew its stake in Alphabet by 148.6% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 174 shares of the information services provider’s stock worth $194,000 after buying an additional 104 shares in the last quarter. 33.96% of the stock is currently owned by institutional investors and hedge funds.
GOOG has been the subject of a number of research reports. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Friday, September 14th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, August 29th. DZ Bank reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 18th. ValuEngine cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, Macquarie reissued a “buy” rating on shares of Alphabet in a research note on Monday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $1,301.81.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The company had revenue of $27.16 billion during the quarter.
In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $1,192.12, for a total transaction of $11,921,200.00. Following the completion of the sale, the chief executive officer now owns 871 shares of the company’s stock, valued at approximately $1,038,336.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 24 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $1,206.20, for a total transaction of $28,948.80. Following the sale, the director now directly owns 1,898 shares of the company’s stock, valued at approximately $2,289,367.60. The disclosure for this sale can be found here. Insiders sold a total of 79,267 shares of company stock valued at $89,342,038 in the last ninety days. 13.11% of the stock is owned by corporate insiders.
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.
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