Freestone Capital Holdings LLC trimmed its holdings in Alphabet Inc (NASDAQ:GOOG) by 9.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 414 shares of the information services provider’s stock after selling 45 shares during the period. Freestone Capital Holdings LLC’s holdings in Alphabet were worth $376,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Shoker Investment Counsel Inc. bought a new stake in shares of Alphabet during the 2nd quarter worth $236,000. Polaris Greystone Financial Group LLC boosted its holdings in shares of Alphabet by 21.2% during the 2nd quarter. Polaris Greystone Financial Group LLC now owns 303 shares of the information services provider’s stock worth $276,000 after buying an additional 53 shares during the period. Manchester Capital Management LLC boosted its holdings in shares of Alphabet by 7.0% during the 2nd quarter. Manchester Capital Management LLC now owns 2,109 shares of the information services provider’s stock worth $1,917,000 after buying an additional 138 shares during the period. Veritas Investment Management LLP boosted its holdings in shares of Alphabet by 5.2% during the 2nd quarter. Veritas Investment Management LLP now owns 38,592 shares of the information services provider’s stock worth $35,078,000 after buying an additional 1,913 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Alphabet by 137.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 185,067 shares of the information services provider’s stock worth $168,176,000 after buying an additional 107,225 shares during the period. 34.74% of the stock is owned by institutional investors.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $958.40, for a total transaction of $3,833,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director L John Doerr sold 12,236 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total transaction of $12,499,930.52. Following the sale, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,560,171.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,396 shares of company stock valued at $38,242,981. Corporate insiders own 13.92% of the company’s stock.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same quarter in the prior year, the company posted $9.06 EPS. The business’s revenue was up 23.7% on a year-over-year basis.
Several research firms recently issued reports on GOOG. SunTrust Banks began coverage on shares of Alphabet in a report on Wednesday, August 16th. They set a “buy” rating and a $1,100.00 price objective for the company. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. BidaskClub downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Robert W. Baird reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a report on Saturday, September 23rd. Finally, JMP Securities reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirty-nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,047.96.
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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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