Pekin Singer Strauss Asset Management IL Reduces Stake in Alphabet Inc (GOOG)

Pekin Singer Strauss Asset Management IL trimmed its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,817 shares of the information services provider’s stock after selling 151 shares during the quarter. Alphabet comprises 1.2% of Pekin Singer Strauss Asset Management IL’s portfolio, making the stock its 22nd largest position. Pekin Singer Strauss Asset Management IL’s holdings in Alphabet were worth $6,538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Burt Wealth Advisors grew its holdings in Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after buying an additional 5 shares in the last quarter. Almanack Investment Partners LLC. grew its holdings in Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after buying an additional 7 shares in the last quarter. St. Johns Investment Management Company LLC grew its holdings in Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after buying an additional 157 shares in the last quarter. Finally, Catamount Wealth Management grew its holdings in Alphabet by 5.8% in the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock worth $165,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 34.65% of the company’s stock.

A number of equities analysts recently issued reports on GOOG shares. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,067.64 price objective for the company. in a report on Monday, November 20th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Finally, Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $1,052.31.

In other news, Director L John Doerr sold 12,236 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at $3,560,171.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 38 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $38,653.98. Following the completion of the sale, the director now owns 1,805 shares of the company’s stock, valued at approximately $1,836,064.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,900 shares of company stock valued at $38,411,507. Corporate insiders own 13.92% of the company’s stock.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,129.79 on Friday. The firm has a market capitalization of $786,500.88, a price-to-earnings ratio of 37.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc has a one year low of $790.52 and a one year high of $1,139.91.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company posted $9.06 EPS.

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About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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