BB&T Corp cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 29,000 shares of the information services provider’s stock after selling 834 shares during the period. BB&T Corp’s holdings in Alphabet were worth $26,353,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. raised its position in Alphabet by 39.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after buying an additional 40 shares during the period. Farmers National Bank raised its position in Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after buying an additional 21 shares during the period. Pacific Center for Financial Services acquired a new position in Alphabet during the fourth quarter worth $142,000. St. Johns Investment Management Company LLC raised its position in Alphabet by 1,046.7% in the second 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 during the period. Finally, Israel Discount Bank of New York GFN acquired a new position in Alphabet during the fourth quarter worth $166,000. Institutional investors own 34.57% of the company’s stock.
Alphabet Inc. (GOOG) traded up 0.4089% on Friday, reaching $914.7052. 706,179 shares of the company traded hands. The company has a market capitalization of $633.78 billion, a P/E ratio of 33.1499 and a beta of 0.94. The company has a 50-day moving average price of $933.72 and a 200-day moving average price of $891.74. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. During the same period in the previous year, the firm earned $8.42 EPS. Alphabet’s revenue was up 21.0% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post $30.60 EPS for the current year.
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GOOG has been the topic of a number of research reports. Pacific Crest reissued an “overweight” rating and issued a $1,040.00 target price on shares of Alphabet in a research note on Sunday, April 23rd. Nomura reissued a “buy” rating and issued a $925.00 target price on shares of Alphabet in a research note on Monday, April 24th. MKM Partners reissued a “buy” rating and issued a $1,000.00 target price on shares of Alphabet in a research note on Tuesday, April 25th. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $902.06 target price on the stock. in a research note on Tuesday, April 25th. Finally, Instinet reissued a “buy” rating and issued a $925.00 target price on shares of Alphabet in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and forty have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,030.56.
In other Alphabet news, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the sale, the director now directly owns 3,485 shares in the company, valued at approximately $3,213,692.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated 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 owns 2,058 shares in the company, valued at $2,019,824.10. The disclosure for this sale can be found here. Insiders have sold a total of 47,169 shares of company stock worth $44,206,482 over the last 90 days. 13.92% of the stock is owned by insiders.
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.
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