EFG Asset Management Americas Corp. Sells 1,336 Shares of Alphabet Inc (NASDAQ:GOOG)

EFG Asset Management Americas Corp. lessened its stake in Alphabet Inc (NASDAQ:GOOG) by 27.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,601 shares of the information services provider’s stock after selling 1,336 shares during the quarter. Alphabet comprises about 1.3% of EFG Asset Management Americas Corp.’s investment portfolio, making the stock its 26th largest holding. EFG Asset Management Americas Corp.’s holdings in Alphabet were worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Engrave Wealth Partners LLC increased its holdings in Alphabet by 15.9% in the second quarter. Engrave Wealth Partners LLC now owns 51 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 7 shares during the last quarter. Charles Schwab Trust Co grew its stake in Alphabet by 2.2% in the second quarter. Charles Schwab Trust Co now owns 325 shares of the information services provider’s stock valued at $459,000 after acquiring an additional 7 shares during the period. JGP Wealth Management LLC grew its stake in Alphabet by 4.8% in the first quarter. JGP Wealth Management LLC now owns 173 shares of the information services provider’s stock valued at $209,000 after acquiring an additional 8 shares during the period. Harvest Group Wealth Management LLC grew its stake in Alphabet by 7.0% in the first quarter. Harvest Group Wealth Management LLC now owns 122 shares of the information services provider’s stock valued at $141,000 after acquiring an additional 8 shares during the period. Finally, Legacy Bridge LLC grew its stake in Alphabet by 1.1% in the first quarter. Legacy Bridge LLC now owns 735 shares of the information services provider’s stock valued at $855,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 32.91% of the company’s stock.

A number of research analysts have issued reports on the company. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Friday. Deutsche Bank boosted their target price on Alphabet from $1,700.00 to $1,975.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. Pivotal Research upped their price objective on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James upped their price objective on Alphabet from $1,425.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,671.00.

In related news, Director Ann Mather sold 32 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the sale, the director now owns 1,119 shares of the company’s stock, valued at $1,587,178.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 60 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total value of $81,816.60. Following the sale, the director now directly owns 592 shares in the company, valued at approximately $807,257.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 212 shares of company stock worth $303,047. 12.99% of the stock is owned by corporate insiders.

NASDAQ:GOOG traded down $48.49 on Friday, hitting $1,482.96. The company’s stock had a trading volume of 3,429,036 shares, compared to its average volume of 1,408,813. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $1,474.19 and a two-hundred day moving average of $1,377.20. The firm has a market capitalization of $1,012.30 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. Alphabet Inc has a one year low of $1,013.54 and a one year high of $1,586.99.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. As a group, sell-side analysts anticipate that Alphabet Inc will post 42.07 EPS for the current year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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