Prudential Financial Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 724,626 shares of the company’s stock after selling 15,122 shares during the period. Alphabet comprises about 0.8% of Prudential Financial Inc.’s investment portfolio, making the stock its 13th largest position. Prudential Financial Inc. owned approximately 0.11% of Alphabet worth $501,513,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Equity Management acquired a new stake in Alphabet during the second quarter worth $121,000. Whitnell & Co. increased its stake in 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 during the last quarter. D. Scott Neal Inc. increased its stake in 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 during the last quarter. Pathstone Family Office LLC increased its stake in Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock worth $154,000 after buying an additional 15 shares during the last quarter. Finally, Cacti Asset Management LLC acquired a new stake in Alphabet during the second quarter worth $159,000. Institutional investors own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) opened at 778.53 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 $774.66 and a 200-day moving average of $741.88. The stock has a market cap of $535.06 billion, a PE ratio of 30.17 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. During the same period in the prior year, the company earned $6.99 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
GOOG has been the subject of several research analyst reports. JPMorgan Chase & Co. set a $920.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Tuesday, July 12th. Pivotal Research restated a “buy” rating and set a $1,000.00 price objective (up from $970.00) on shares of Alphabet in a research report on Tuesday, July 12th. Societe Generale set a $910.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Thursday, July 7th. Longbow Research initiated coverage on shares of Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating for the company. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $926.55.
In other news, CEO Lawrence Page sold 33,340 shares of the stock in a transaction on Friday, September 23rd. The shares were 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 directly owns 105,670 shares of the company’s stock, valued at $84,615,252.50. The sale was disclosed in a 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 20th. The stock was sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the completion of the sale, the chief executive officer now directly owns 3,297 shares of the company’s stock, valued at $2,437,175.37. 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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