Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Weitz Investment Management Inc.

Weitz Investment Management Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the second quarter, Holdings Channel.com reports. The fund owned 59,860 shares of the information services provider’s stock after selling 2,000 shares during the period. Alphabet comprises 6.3% of Weitz Investment Management Inc.’s portfolio, making the stock its biggest holding. Weitz Investment Management Inc.’s holdings in Alphabet were worth $150,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cigna Investments Inc. New lifted its stake in Alphabet by 2.6% during the first quarter. Cigna Investments Inc. New now owns 10,451 shares of the information services provider’s stock valued at $21,620,000 after buying an additional 262 shares in the last quarter. PNC Managed Account Solutions Inc. purchased a new stake in Alphabet during the second quarter valued at about $2,125,000. Nomura Asset Management Co. Ltd. lifted its stake in Alphabet by 2.6% during the first quarter. Nomura Asset Management Co. Ltd. now owns 97,241 shares of the information services provider’s stock valued at $201,155,000 after buying an additional 2,483 shares in the last quarter. Rice Partnership LLC lifted its stake in Alphabet by 78.4% during the second quarter. Rice Partnership LLC now owns 1,104 shares of the information services provider’s stock valued at $2,767,000 after buying an additional 485 shares in the last quarter. Finally, Red Door Wealth Management LLC lifted its stake in Alphabet by 17.9% during the second quarter. Red Door Wealth Management LLC now owns 2,802 shares of the information services provider’s stock valued at $7,022,000 after buying an additional 426 shares in the last quarter. 31.55% of the stock is owned by institutional investors.

GOOG has been the subject of a number of research analyst reports. Oppenheimer increased their price target on shares of Alphabet from $2,510.00 to $3,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Mizuho increased their price target on shares of Alphabet from $2,800.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Susquehanna Bancshares increased their price target on shares of Alphabet from $3,100.00 to $3,600.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, July 26th. Finally, Morgan Stanley increased their price target on shares of Alphabet from $2,575.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $3,087.17.

In other Alphabet news, CAO Amie Thuener O’toole sold 48 shares of Alphabet stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $2,496.99, for a total transaction of $119,855.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 17 shares of Alphabet stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $2,918.99, for a total value of $49,622.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 461,489 shares of company stock worth $325,800,236. 12.99% of the stock is currently owned by corporate insiders.

Shares of Alphabet stock traded down $7.36 during midday trading on Wednesday, hitting $2,860.76. The company had a trading volume of 17,953 shares, compared to its average volume of 1,313,009. The business’s 50 day simple moving average is $2,761.21 and its two-hundred day simple moving average is $2,467.80. The stock has a market cap of $1.91 trillion, a PE ratio of 31.09, a P/E/G ratio of 1.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14. Alphabet Inc. has a 1-year low of $1,406.55 and a 1-year high of $2,936.41.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $19.89 by $7.37. The business had revenue of $61.88 billion for the quarter, compared to the consensus estimate of $56.08 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. Alphabet’s quarterly revenue was up 61.6% on a year-over-year basis. During the same quarter last year, the company posted $10.13 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 101.86 EPS for the current fiscal year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Further Reading: Trading Stocks – What are percentage gainers?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.