Gamble Jones Investment Counsel reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 12,217 shares of the company’s stock after selling 394 shares during the period. Alphabet comprises about 0.9% of Gamble Jones Investment Counsel’s portfolio, making the stock its 25th largest position. Gamble Jones Investment Counsel’s holdings in Alphabet were worth $8,455,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in Alphabet by 9.8% in the second quarter. Nordea Investment Management AB now owns 183,470 shares of the company’s stock valued at $126,980,000 after buying an additional 16,342 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of Alphabet by 2.9% in the second quarter. Chesley Taft & Associates LLC now owns 32,171 shares of the company’s stock worth $22,266,000 after buying an additional 900 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in shares of Alphabet by 5.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 76,454 shares of the company’s stock worth $52,914,000 after buying an additional 4,102 shares during the period. AXA raised its position in shares of Alphabet by 3.8% in the first quarter. AXA now owns 290,480 shares of the company’s stock worth $216,393,000 after buying an additional 10,590 shares during the period. Finally, Pictet Asset Management Ltd. raised its position in shares of Alphabet by 9.1% in the first quarter. Pictet Asset Management Ltd. now owns 218,770 shares of the company’s stock worth $152,651,000 after buying an additional 18,278 shares during the period. 34.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.32% during mid-day trading on Tuesday, reaching $775.00. The company’s stock had a trading volume of 522,080 shares. The company has a market capitalization of $532.64 billion, a price-to-earnings ratio of 30.03 and a beta of 1.03. The company’s 50 day moving average price is $773.49 and its 200-day moving average price is $739.24. Alphabet Inc. has a 1-year low of $625.56 and a 1-year high of $789.87.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. During the same period last year, the business posted $6.99 EPS. Alphabet’s quarterly revenue was up 21.3% on a year-over-year basis. Analysts predict that Alphabet Inc. will post $34.30 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the company. Citigroup Inc. reissued a “buy” rating and issued a $900.00 target price on shares of Alphabet in a research report on Saturday, June 18th. Stifel Nicolaus reissued a “buy” rating and issued a $925.00 target price (up previously from $888.00) on shares of Alphabet in a research report on Friday, July 29th. Longbow Research assumed coverage on Alphabet in a research report on Wednesday, July 6th. They issued a “buy” rating for the company. Macquarie reissued an “outperform” rating and issued a $975.00 target price on shares of Alphabet in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $925.99.
In other Alphabet news, VP James Grier Campbell sold 603 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $767.18, for a total transaction of $462,609.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $690.94, for a total value of $2,763,760.00. Following the sale, the chief executive officer now owns 3,672 shares in the company, valued at approximately $2,537,131.68. The disclosure for this sale can be found here. 13.92% of the stock is owned by corporate insiders.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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