Alphabet Inc. (NASDAQ:GOOGL) Position Reduced by ClariVest Asset Management LLC

ClariVest Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 26,556 shares of the information services provider’s stock after selling 900 shares during the period. Alphabet comprises approximately 2.5% of ClariVest Asset Management LLC’s holdings, making the stock its 4th biggest holding. ClariVest Asset Management LLC’s holdings in Alphabet were worth $57,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dravo Bay LLC bought a new position in shares of Alphabet in the first quarter worth approximately $28,000. Financial Enhancement Group LLC bought a new position in Alphabet during the first quarter valued at approximately $31,000. Verity Asset Management Inc. grew its position in Alphabet by 536,206.4% during the first quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 589,827 shares during the last quarter. Advocacy Wealth Management Services LLC grew its position in Alphabet by 72.7% during the second quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 8 shares during the last quarter. Finally, Cardinal Capital Management Inc. bought a new position in Alphabet during the second quarter valued at approximately $41,000. 1.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ann Mather sold 280 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was bought at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the acquisition, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 280 shares of Alphabet stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the sale, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,461,702 shares of company stock valued at $36,999,217 and sold 302,441 shares valued at $20,007,551. Insiders own 11.44% of the company’s stock.

Alphabet Price Performance

GOOGL traded up $1.41 during trading on Thursday, hitting $98.46. The company’s stock had a trading volume of 18,868,092 shares, compared to its average volume of 41,118,432. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.84 and a beta of 1.05. The business’s fifty day simple moving average is $97.11 and its 200 day simple moving average is $107.37. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter in the previous year, the business posted $1.40 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on GOOGL shares. Rosenblatt Securities dropped their price target on Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Credit Suisse Group lowered their price objective on Alphabet from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. KeyCorp lowered their price objective on Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, October 25th. Citigroup lowered their price objective on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Finally, Royal Bank of Canada lowered their price objective on Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.90.

Alphabet Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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