Mark Sheptoff Financial Planning LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135 shares of the information services provider’s stock after selling 1 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Alphabet were worth $123,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Newman Dignan & Sheerar Inc. lifted its holdings in shares of Alphabet by 3.6% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 1,444 shares of the information services provider’s stock valued at $1,312,000 after buying an additional 50 shares during the period. Atwood & Palmer Inc. lifted its holdings in shares of Alphabet by 0.3% in the 2nd quarter. Atwood & Palmer Inc. now owns 19,938 shares of the information services provider’s stock valued at $18,119,000 after buying an additional 65 shares during the period. Cornerstone Advisory LLP lifted its holdings in shares of Alphabet by 159.6% in the 2nd quarter. Cornerstone Advisory LLP now owns 2,635 shares of the information services provider’s stock valued at $2,395,000 after buying an additional 1,620 shares during the period. Good Life Advisors LLC lifted its holdings in shares of Alphabet by 7.5% in the 2nd quarter. Good Life Advisors LLC now owns 446 shares of the information services provider’s stock valued at $423,000 after buying an additional 31 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Alphabet by 8.3% in the 2nd quarter. Principal Financial Group Inc. now owns 658,221 shares of the information services provider’s stock worth $598,157,000 after purchasing an additional 50,275 shares during the period. Hedge funds and other institutional investors own 34.73% of the company’s stock.
A number of equities analysts recently weighed in on GOOG shares. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price target for the company. in a report on Wednesday, August 30th. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. UBS reaffirmed a “buy” rating and issued a $1,080.00 price target on shares of Alphabet in a report on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirty-nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1,047.96.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $9.06 earnings per share.
In other news, Director Ann Mather sold 38 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total transaction of $36,451.88. Following the completion of the transaction, the director now directly owns 1,797 shares in the company, valued at $1,723,790.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $931.44, for a total value of $3,725,760.00. Following the transaction, the chief executive officer now owns 1,618 shares of the company’s stock, valued at $1,507,069.92. The disclosure for this sale can be found here. Insiders sold 38,395 shares of company stock valued at $37,941,725 over the last quarter. 13.92% of the stock is currently owned by company insiders.
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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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