Alphabet Inc (GOOG) Holdings Cut by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. lessened its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,588 shares of the information services provider’s stock after selling 112 shares during the period. Alphabet comprises 1.3% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 25th largest holding. Schmidt P J Investment Management Inc.’s holdings in Alphabet were worth $4,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in shares of Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after purchasing an additional 2,831,099 shares during the period. Harbour Capital Advisors LLC increased its holdings in shares of Alphabet by 87,001.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after purchasing an additional 1,991,465 shares during the period. Koch Industries Inc. increased its holdings in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after purchasing an additional 1,161,184 shares during the period. BlackRock Inc. increased its holdings in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares during the period. Finally, Capital World Investors increased its holdings in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares during the period. Hedge funds and other institutional investors own 34.64% of the company’s stock.

In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $1,072.64, for a total value of $4,290,560.00. Following the completion of the sale, the chief executive officer now directly owns 803 shares of the company’s stock, valued at $861,329.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 38 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total value of $36,451.88. Following the completion of the sale, the director now directly owns 1,797 shares of the company’s stock, valued at $1,723,790.22. The disclosure for this sale can be found here. Insiders have sold 36,900 shares of company stock valued at $37,430,220 in the last ninety days. Company insiders own 13.92% of the company’s stock.

Shares of Alphabet Inc (GOOG) opened at $1,060.12 on Monday. The stock has a market capitalization of $739,011.19, a P/E ratio of 35.49 and a beta of 0.93. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 12-month low of $770.41 and a 12-month high of $1,078.49.

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

A number of brokerages have recently weighed in on GOOG. Robert W. Baird reiterated an “outperform” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. JMP Securities reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Wells Fargo & Co reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Vetr downgraded Alphabet from a “buy” rating to a “hold” rating and set a $988.73 target price on the stock. in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirty-eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,046.24.

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About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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