Ascension Asset Management LLC Lowers Stake in Alphabet Inc (NASDAQ:GOOG)

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Ascension Asset Management LLC lowered its position in shares of Alphabet Inc (NASDAQ:GOOG) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,005 shares of the information services provider’s stock after selling 60 shares during the quarter. Ascension Asset Management LLC’s holdings in Alphabet were worth $1,225,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Alphabet by 1.2% during the second quarter. Vanguard Group Inc. now owns 22,708,312 shares of the information services provider’s stock valued at $24,545,641,000 after buying an additional 259,979 shares during the last quarter. BlackRock Inc. increased its position in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock worth $21,839,988,000 after purchasing an additional 612,804 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Alphabet by 6.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock worth $12,409,352,000 after purchasing an additional 674,924 shares during the last quarter. Northern Trust Corp increased its position in Alphabet by 0.8% in the second quarter. Northern Trust Corp now owns 4,199,889 shares of the information services provider’s stock worth $4,539,702,000 after purchasing an additional 31,873 shares during the last quarter. Finally, Invesco Ltd. increased its position in Alphabet by 5.7% in the second quarter. Invesco Ltd. now owns 3,715,122 shares of the information services provider’s stock worth $4,015,713,000 after purchasing an additional 199,097 shares during the last quarter. 33.80% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on GOOG shares. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Friday, October 18th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,363.00 price target on the stock in a research report on Wednesday, October 16th. Wedbush boosted their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. UBS Group restated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,378.33.

In other news, Director John L. Hennessy sold 150 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $1,225.00, for a total transaction of $183,750.00. Following the completion of the sale, the director now directly owns 276 shares of the company’s stock, valued at $338,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 75 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $1,238.57, for a total transaction of $92,892.75. Following the sale, the director now directly owns 276 shares of the company’s stock, valued at $341,845.32. The disclosure for this sale can be found here. Insiders have sold 5,391 shares of company stock valued at $6,502,992 over the last three months. Insiders own 12.99% of the company’s stock.

NASDAQ GOOG opened at $1,242.80 on Wednesday. The firm has a market capitalization of $864.08 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.46 and a beta of 0.99. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $1,219.87 and a two-hundred day moving average of $1,174.60.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $11.75 earnings per share. Equities research analysts anticipate that Alphabet Inc will post 51.42 EPS for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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