Accredited Investors Inc. Cuts Stake in Alphabet Inc. (GOOG)
Accredited Investors Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 63.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285 shares of the information services provider’s stock after selling 497 shares during the period. Accredited Investors Inc.’s holdings in Alphabet were worth $259,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of Alphabet by 1.0% during the second quarter. Advisors Asset Management Inc. now owns 6,177 shares of the information services provider’s stock valued at $5,613,000 after buying an additional 59 shares during the period. Bingham Osborn & Scarborough LLC increased its stake in shares of Alphabet by 38.8% during the second quarter. Bingham Osborn & Scarborough LLC now owns 1,184 shares of the information services provider’s stock valued at $1,076,000 after buying an additional 331 shares during the period. 440 Investment Group LLC purchased a new position in shares of Alphabet during the second quarter valued at $293,000. Foster Dykema Cabot & Co. Inc. MA increased its stake in shares of Alphabet by 0.8% during the second quarter. Foster Dykema Cabot & Co. Inc. MA now owns 1,554 shares of the information services provider’s stock valued at $1,412,000 after buying an additional 13 shares during the period. Finally, CCM Investment Advisers LLC increased its stake in shares of Alphabet by 2.0% during the second quarter. CCM Investment Advisers LLC now owns 857 shares of the information services provider’s stock valued at $778,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 34.50% of the company’s stock.
Shares of Alphabet Inc. (GOOG) opened at $1,032.48 on Friday. 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 $727.54 and a 12-month high of $1,048.39. The company has a market capitalization of $715,381.63, a P/E ratio of 34.57 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last issued its quarterly 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 return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same period in the previous year, the business earned $9.06 earnings per share. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis.
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In other Alphabet news, Director Ann Mather sold 37 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $940.67, for a total transaction of $34,804.79. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at $1,682,858.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $931.32, for a total value of $1,862,640.00. Following the transaction, the senior vice president now directly owns 800 shares in the company, valued at approximately $745,056. The disclosure for this sale can be found here. Insiders have sold 37,714 shares of company stock valued at $35,728,265 over the last quarter. 13.92% of the stock is owned by company insiders.
GOOG has been the topic of several research reports. Credit Suisse Group restated an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Wednesday, July 12th. Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,047.63 target price on the stock. in a research note on Wednesday, July 12th. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Pivotal Research reiterated a “hold” rating and issued a $980.00 target price (down previously from $990.00) on shares of Alphabet in a research note on Monday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $1,045.44.
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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