Systematic Financial Management LP reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 9,642 shares of the company’s stock after selling 2,059 shares during the period. Systematic Financial Management LP’s holdings in Alphabet were worth $6,673,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Alphabet during the second quarter worth $121,000. Whitnell & Co. boosted its stake in shares of Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares in the last quarter. D. Scott Neal Inc. boosted its stake in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares in the last quarter. Cacti Asset Management LLC bought a new stake in shares of Alphabet during the second quarter worth $159,000. Finally, Taylor Cottrill Erickson & Associates Inc. bought a new stake in shares of Alphabet during the second quarter worth $208,000. 34.39% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOG) opened at 782.31 on Friday. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28. The company has a 50-day moving average of $774.40 and a 200 day moving average of $741.56. The stock has a market cap of $537.66 billion, a price-to-earnings ratio of 30.31 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. During the same quarter in the previous year, the business posted $6.99 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post $34.14 earnings per share for the current year.
GOOG has been the subject of a number of recent analyst reports. Citigroup Inc. reiterated a “buy” rating and set a $900.00 price target on shares of Alphabet in a research report on Saturday, June 18th. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $778.71 price target for the company in a research report on Monday, June 20th. Pacific Crest reiterated an “overweight” rating and set a $910.00 price target on shares of Alphabet in a research report on Thursday, June 23rd. Evercore ISI restated a “buy” rating and issued a $830.00 price objective (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $810.00 price objective (down previously from $850.00) on shares of Alphabet in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $926.55.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $739.21, for a total value of $2,956,840.00. Following the completion of the sale, the chief executive officer now directly owns 3,297 shares in the company, valued at approximately $2,437,175.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lawrence Page sold 33,340 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $800.75, for a total value of $26,697,005.00. Following the completion of the sale, the chief executive officer now owns 105,670 shares of the company’s stock, valued at $84,615,252.50. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.
Alphabet Company Profile
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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