Livingston Group Asset Management CO operating as Southport Capital Management decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818 shares of the information services provider’s stock after selling 21 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Alphabet were worth $743,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. raised its stake 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 last quarter. Farmers National Bank raised its stake 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 last quarter. St. Johns Investment Management Company LLC raised its stake 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 last quarter. Pacific Center for Financial Services bought a new stake in Alphabet during the fourth quarter worth approximately $142,000. Finally, Feltz Wealth PLAN Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $170,000. 34.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.03% on Friday, reaching $910.67. The company’s stock had a trading volume of 1,342,689 shares. The stock has a market capitalization of $630.98 billion, a price-to-earnings ratio of 33.00 and a beta of 0.94. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The stock has a 50-day moving average of $933.52 and a 200 day moving average of $892.51.
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 the Zacks’ consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. Alphabet’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the company earned $8.42 EPS. On average, analysts expect that Alphabet Inc. will post $30.60 EPS for the current year.
GOOG has been the topic of a number of research analyst reports. J P Morgan Chase & Co reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Nomura reissued a “buy” rating and issued a $985.00 price target on shares of Alphabet in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, June 28th. Wedbush reissued an “underperform” rating and issued a $725.00 price target (up from $700.00) on shares of Alphabet in a research note on Saturday, April 29th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and forty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $1,030.56.
In other Alphabet 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 value of $3,925,800.00. Following the transaction, the chief executive officer now directly owns 2,058 shares in the company, valued at approximately $2,019,824.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Grier Campbell sold 183 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,169 shares of company stock worth $44,206,482. 13.92% of the stock is owned by corporate insiders.
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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