Essex Financial Services Inc. Reduces Stake in Alphabet Inc (GOOG)

Essex Financial Services Inc. trimmed its position in Alphabet Inc (NASDAQ:GOOG) by 2.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,900 shares of the information services provider’s stock after selling 107 shares during the period. Alphabet accounts for approximately 0.9% of Essex Financial Services Inc.’s investment portfolio, making the stock its 29th biggest position. Essex Financial Services Inc.’s holdings in Alphabet were worth $3,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after acquiring an additional 589,654 shares during the last quarter. BlackRock Inc. lifted its stake 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 acquiring an additional 826,480 shares during the last quarter. FMR LLC lifted its stake in shares of Alphabet by 0.4% in the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after acquiring an additional 62,507 shares during the last quarter. Capital World Investors lifted its stake 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 acquiring an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Alphabet by 3.2% during the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after purchasing an additional 155,151 shares during the last quarter. Institutional investors own 34.65% of the company’s stock.

In other Alphabet news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total transaction of $38,653.98. Following the transaction, the director now owns 1,805 shares of the company’s stock, valued at approximately $1,836,064.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $1,127.17, for a total transaction of $4,508,680.00. Following the transaction, the chief executive officer now directly owns 656 shares in the company, valued at approximately $739,423.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,900 shares of company stock worth $38,411,507. Insiders own 13.92% of the company’s stock.

Alphabet Inc (GOOG) opened at $1,137.51 on Friday. The stock has a market capitalization of $784,979.25, a PE ratio of 37.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc has a 12 month low of $790.52 and a 12 month high of $1,139.91.

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

GOOG has been the subject of several analyst reports. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 20th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 6th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,150.00 target price on shares of Alphabet in a research report on Thursday, October 19th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,052.31.

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Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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