Nationwide Fund Advisors cut its position in Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 171,313 shares of the information services provider’s stock after selling 3,962 shares during the period. Alphabet accounts for approximately 0.6% of Nationwide Fund Advisors’ portfolio, making the stock its 17th largest position. Nationwide Fund Advisors’ holdings in Alphabet were worth $142,114,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Alphabet by 2.5% in the fourth quarter. State Street Corp now owns 12,030,811 shares of the information services provider’s stock worth $9,285,625,000 after buying an additional 290,691 shares during the period. Dodge & Cox bought a new position in Alphabet during the fourth quarter worth approximately $2,387,502,000. Norges Bank bought a new position in Alphabet during the fourth quarter worth approximately $2,128,163,000. Bank of Montreal Can boosted its position in Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock worth $1,404,065,000 after buying an additional 181,085 shares during the period. Finally, Putnam Investments LLC boosted its position in Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock worth $844,967,000 after buying an additional 366,456 shares during the period. 35.04% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (GOOG) opened at 957.37 on Tuesday. The stock has a market capitalization of $662.26 billion, a P/E ratio of 32.35 and a beta of 0.94. Alphabet Inc. has a 12-month low of $663.28 and a 12-month high of $988.25. The firm’s 50-day moving average is $947.65 and its 200-day moving average is $851.08.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping analysts’ consensus estimates of $7.38 by $0.35. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The firm had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $24.18 billion. During the same period in the prior year, the firm posted $7.50 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Analysts predict that Alphabet Inc. will post $33.91 EPS for the current fiscal year.
GOOG has been the subject of a number of research reports. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Monday, May 29th. BMO Capital Markets reissued an “outperform” rating and issued a $1,005.00 target price on shares of Alphabet in a report on Monday, March 27th. Nomura reissued a “buy” rating and issued a $985.00 target price on shares of Alphabet in a report on Monday, May 1st. Robert W. Baird reissued an “outperform” rating and issued a $960.00 target price on shares of Alphabet in a report on Wednesday, March 1st. Finally, Cowen and Company reissued an “outperform” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and forty have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $988.04.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the sale, the chief executive officer now directly owns 2,058 shares of the company’s stock, valued at $2,019,824.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Drummond sold 2,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $948.90, for a total value of $1,897,800.00. Following the sale, the senior vice president now directly owns 2,800 shares in the company, valued at $2,656,920. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,085 shares of company stock worth $38,486,001. Insiders own 13.92% of the company’s stock.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG).
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.