Alphabet Inc. (NASDAQ:GOOG) is LS Investment Advisors LLC’s 5th Largest Position

LS Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,342 shares of the information services provider’s stock after selling 4,101 shares during the period. Alphabet comprises approximately 3.6% of LS Investment Advisors LLC’s portfolio, making the stock its 5th biggest holding. LS Investment Advisors LLC’s holdings in Alphabet were worth $28,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC lifted its stake in Alphabet by 1.3% during the first quarter. Geode Capital Management LLC now owns 4,491,336 shares of the information services provider’s stock worth $9,263,944,000 after purchasing an additional 58,462 shares during the period. Capital International Investors raised its stake in shares of Alphabet by 1.1% in the first quarter. Capital International Investors now owns 4,105,991 shares of the information services provider’s stock valued at $8,493,416,000 after acquiring an additional 43,395 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 28.9% in the first quarter. JPMorgan Chase & Co. now owns 3,594,116 shares of the information services provider’s stock valued at $7,434,896,000 after acquiring an additional 804,739 shares during the last quarter. Sanders Capital LLC raised its position in Alphabet by 3.7% in the 2nd quarter. Sanders Capital LLC now owns 1,599,084 shares of the information services provider’s stock worth $4,367,196,000 after purchasing an additional 56,572 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Alphabet by 18.3% in the 1st quarter. Jennison Associates LLC now owns 1,392,266 shares of the information services provider’s stock worth $2,880,083,000 after purchasing an additional 215,663 shares during the last quarter. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:GOOG traded up $22.93 during trading hours on Tuesday, reaching $2,803.27. The company had a trading volume of 22,020 shares, compared to its average volume of 1,321,586. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $1,406.55 and a 52 week high of $2,936.41. The firm has a market cap of $1.87 trillion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.85 and a beta of 1.00. The firm’s 50 day moving average price is $2,781.48 and its 200-day moving average price is $2,490.11.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, topping the consensus estimate of $19.89 by $7.37. The business had revenue of $61.88 billion for the quarter, compared to analysts’ expectations of $56.08 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The business’s quarterly revenue was up 61.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.13 EPS. On average, analysts forecast that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Credit Suisse Group lifted their target price on shares of Alphabet from $2,755.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Truist Securities lifted their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Barclays upped their price target on shares of Alphabet from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. BMO Capital Markets boosted their price objective on shares of Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Finally, UBS Group reiterated a “buy” rating and set a $3,190.00 price objective on shares of Alphabet in a report on Tuesday, August 10th. Three equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average price target of $3,087.17.

In other news, SVP John Kent Walker sold 2,501 shares of Alphabet stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $2,517.43, for a total transaction of $6,296,092.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Capitalg 2014 Lp sold 356,152 shares of the stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $102.00, for a total value of $36,327,504.00. The disclosure for this sale can be found here. Insiders have sold a total of 464,489 shares of company stock worth $334,390,376 over the last quarter. 12.99% of the stock is currently owned by insiders.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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