Hanson McClain Inc. Cuts Stake in Alphabet Inc. (GOOG)

Hanson McClain Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 268 shares of the information services provider’s stock after selling 24 shares during the quarter. Hanson McClain Inc.’s holdings in Alphabet were worth $244,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Capital Investment Advisory Services LLC raised its position in shares of Alphabet by 0.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock valued at $230,000 after buying an additional 1 shares in the last quarter. Foster & Motley Inc. raised its position in shares of Alphabet by 0.8% in the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after buying an additional 2 shares in the last quarter. Gradient Investments LLC raised its position in shares of Alphabet by 0.6% in the 2nd quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock valued at $460,000 after buying an additional 3 shares in the last quarter. Saratoga Research & Investment Management raised its position in shares of Alphabet by 1.2% in the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock valued at $234,000 after buying an additional 3 shares in the last quarter. Finally, Edge Wealth Management LLC raised its position in shares of Alphabet by 0.9% in the 2nd quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock valued at $309,000 after buying an additional 3 shares in the last quarter. Institutional investors and hedge funds own 34.43% of the company’s stock.

In other news, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $933.08, for a total value of $170,753.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $940.67, for a total transaction of $34,804.79. Following the completion of the transaction, the director now owns 1,789 shares in the company, valued at approximately $1,682,858.63. The disclosure for this sale can be found here. Insiders sold 38,394 shares of company stock worth $37,937,930 over the last ninety days. 13.92% of the stock is currently owned by insiders.

Several brokerages have recently commented on GOOG. Vetr cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,067.64 target price for the company. in a research report on Monday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,050.00 price target on shares of Alphabet in a report on Wednesday, August 9th. BidaskClub lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,047.52.

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Shares of Alphabet Inc. (NASDAQ:GOOG) opened at $1,035.96 on Thursday. The firm has a market cap of $718,764.69, a P/E ratio of 34.63 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 Inc. has a one year low of $737.02 and a one year high of $1,048.39.

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

Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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