Contravisory Investment Management Inc. cut its holdings in Alphabet Inc (NASDAQ:GOOG) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,899 shares of the information services provider’s stock after selling 163 shares during the quarter. Alphabet makes up 1.7% of Contravisory Investment Management Inc.’s holdings, making the stock its 26th biggest holding. Contravisory Investment Management Inc.’s holdings in Alphabet were worth $4,653,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rice Partnership LLC raised its position in Alphabet by 21.7% in the second quarter. Rice Partnership LLC now owns 544 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 97 shares during the last quarter. Pinnacle Financial Partners Inc. raised its position in Alphabet by 8.6% in the second quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock valued at $2,378,000 after purchasing an additional 168 shares during the last quarter. Point72 Asset Management L.P. raised its position in Alphabet by 349.3% in the first quarter. Point72 Asset Management L.P. now owns 38,146 shares of the information services provider’s stock valued at $39,359,000 after purchasing an additional 53,446 shares during the last quarter. Bremer Trust National Association raised its position in Alphabet by 134.5% in the second quarter. Bremer Trust National Association now owns 4,068 shares of the information services provider’s stock valued at $4,539,000 after purchasing an additional 2,333 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Alphabet by 1.4% in the second quarter. CIBC Private Wealth Group LLC now owns 372,379 shares of the information services provider’s stock valued at $415,444,000 after purchasing an additional 5,209 shares during the last quarter. 40.44% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ GOOG opened at $1,050.82 on Thursday. Alphabet Inc has a one year low of $980.64 and a one year high of $1,273.89. The company has a market cap of $761.59 billion, a P/E ratio of 24.90 and a beta of 1.15. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion during the quarter.

In related news, VP Amie Thuener O’toole sold 80 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $1,103.12, for a total transaction of $88,249.60. Following the completion of the sale, the vice president now owns 388 shares of the company’s stock, valued at $428,010.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $1,038.35, for a total value of $10,383,500.00. Following the sale, the chief executive officer now directly owns 519 shares of the company’s stock, valued at approximately $538,903.65. The disclosure for this sale can be found here. Insiders have sold 79,437 shares of company stock valued at $87,985,547 in the last ninety days. 13.11% of the stock is currently owned by insiders.

A number of equities analysts have recently issued reports on GOOG shares. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Stifel Nicolaus restated a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. Canaccord Genuity lowered their price objective on Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating for the company in a research report on Friday, October 26th. Deutsche Bank restated a “buy” rating and set a $1,375.00 price objective (up from $1,350.00) on shares of Alphabet in a research report on Tuesday, October 23rd. Finally, Macquarie restated a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company. Alphabet has an average rating of “Buy” and a consensus price target of $1,301.81.

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About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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