National Planning Corp decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 14.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,825 shares of the company’s stock after selling 466 shares during the period. National Planning Corp’s holdings in Alphabet were worth $2,178,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of Alphabet during the second quarter worth approximately $927,982,000. Nordea Investment Management AB raised its stake in shares of Alphabet by 9.8% in the second quarter. Nordea Investment Management AB now owns 183,470 shares of the company’s stock worth $126,980,000 after buying an additional 16,342 shares during the last quarter. Chesley Taft & Associates LLC raised its stake 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 last quarter. Seaward Management Limited Partnership raised its stake in shares of Alphabet by 1.2% in the second quarter. Seaward Management Limited Partnership now owns 75,336 shares of the company’s stock worth $52,140,000 after buying an additional 895 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake 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 last quarter. Institutional investors own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) opened at 778.53 on Monday. The company has a 50-day moving average of $774.66 and a 200 day moving average of $741.88. Alphabet Inc. has a 52-week low of $641.73 and a 52-week high of $792.28. The firm has a market cap of $535.06 billion, a price-to-earnings ratio of 30.17 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Alphabet’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.99 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post $34.14 EPS for the current year.
A number of analysts have recently issued reports on GOOG shares. 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. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $778.71 target price on the stock in a research report on Monday, June 20th. Longbow Research started coverage on Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, September 27th. Finally, Societe Generale set a $910.00 price objective on Alphabet and gave the company a “buy” rating in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $926.55.
In other Alphabet news, CEO Lawrence Page sold 33,332 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $716.51, for a total transaction of $23,882,711.32. Following the transaction, the chief executive officer now owns 30,666 shares in the company, valued at $21,972,495.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s 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 transaction, the chief executive officer now owns 3,297 shares in the company, valued at approximately $2,437,175.37. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.
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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