RFG Advisory Group LLC cut its stake in Alphabet Inc (NASDAQ:GOOG) by 27.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251 shares of the information services provider’s stock after selling 95 shares during the period. RFG Advisory Group LLC’s holdings in Alphabet were worth $244,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Alphabet by 1.3% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 35,742 shares of the information services provider’s stock worth $34,281,000 after purchasing an additional 453 shares in the last quarter. West Coast Financial LLC boosted its stake in Alphabet by 27.1% during the third quarter. West Coast Financial LLC now owns 1,252 shares of the information services provider’s stock valued at $1,201,000 after buying an additional 267 shares in the last quarter. One Capital Management LLC boosted its stake in Alphabet by 10.3% during the third quarter. One Capital Management LLC now owns 3,544 shares of the information services provider’s stock valued at $3,399,000 after buying an additional 331 shares in the last quarter. Nelson Roberts Investment Advisors LLC bought a new position in Alphabet during the third quarter valued at about $14,016,000. Finally, Trust Asset Management LLC boosted its stake in Alphabet by 1.0% during the third quarter. Trust Asset Management LLC now owns 25,874 shares of the information services provider’s stock valued at $26,250,000 after buying an additional 255 shares in the last quarter. 34.63% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on GOOG. SunTrust Banks raised their target price on Alphabet to $1,250.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday. Piper Jaffray Companies raised their target price on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday. Finally, BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average price target of $1,052.31.
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, topping the consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the business earned $9.06 EPS.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $993.58, for a total value of $3,974,320.00. Following the completion of the sale, the chief executive officer now directly owns 1,471 shares of the company’s stock, valued at approximately $1,461,556.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 38 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $1,017.21, for a total value of $38,653.98. Following the completion of the sale, the director now directly owns 1,805 shares of the company’s stock, valued at $1,836,064.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,900 shares of company stock valued at $37,877,147. Company insiders own 13.92% of the company’s stock.
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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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