Pitcairn Co. lowered its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,154 shares of the information services provider’s stock after selling 63 shares during the period. Alphabet makes up approximately 0.6% of Pitcairn Co.’s holdings, making the stock its 17th biggest position. Pitcairn Co.’s holdings in Alphabet were worth $4,684,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. increased its position in shares of Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after purchasing an additional 40 shares during the last quarter. Farmers National Bank increased its holdings in Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after acquiring an additional 21 shares in the last quarter. St. Johns Investment Management Company LLC increased 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 acquiring an additional 157 shares in the last quarter. Cribstone Capital Management LLC increased its holdings in Alphabet by 5.7% in the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after acquiring an additional 10 shares in the last quarter. Finally, Baker Boyer National Bank purchased a new stake in Alphabet in the 2nd quarter worth approximately $200,000. Institutional investors and hedge funds own 34.50% of the company’s stock.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $1,018.97, for a total transaction of $4,075,880.00. Following the completion of the sale, the chief executive officer now directly owns 1,699 shares in the company, valued at $1,731,230.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the sale, the director now owns 3,485 shares of the company’s stock, valued at $3,213,692.75. The disclosure for this sale can be found here. Insiders sold 37,714 shares of company stock valued at $35,728,265 over the last 90 days. Company insiders own 13.92% of the company’s stock.
Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,032.48 on Friday. The stock has a market cap of $710.60 billion, a P/E ratio of 34.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Zacks’ consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a return on equity of 17.68% and a net margin of 24.24%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $9.06 earnings per share.
TRADEMARK VIOLATION NOTICE: This story was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.com-unik.info/2017/11/04/alphabet-inc-goog-shares-sold-by-pitcairn-co.html.
Several research firms recently issued reports on GOOG. Oppenheimer Holdings, Inc. reissued an “outperform” rating on shares of Alphabet in a report on Friday, October 27th. UBS Group AG (USA) reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Macquarie reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,045.44.
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).
What are top analysts saying about Alphabet Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Alphabet Inc and related companies.