Alphabet Inc (GOOG) Shares Sold by Gradient Investments LLC
Gradient Investments LLC trimmed its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 892 shares of the information services provider’s stock after selling 329 shares during the quarter. Gradient Investments LLC’s holdings in Alphabet were worth $924,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Capital Investment Services of America Inc. lifted its holdings in shares of Alphabet by 1.5% during the fourth quarter. Capital Investment Services of America Inc. now owns 12,066 shares of the information services provider’s stock worth $12,496,000 after buying an additional 174 shares in the last quarter. Steginsky Capital LLC lifted its holdings in shares of Alphabet by 1.3% during the third quarter. Steginsky Capital LLC now owns 18,507 shares of the information services provider’s stock worth $22,088,000 after buying an additional 234 shares in the last quarter. Garner Asset Management Corp lifted its holdings in shares of Alphabet by 27.8% during the third quarter. Garner Asset Management Corp now owns 993 shares of the information services provider’s stock worth $1,185,000 after buying an additional 216 shares in the last quarter. USS Investment Management Ltd lifted its holdings in shares of Alphabet by 13.8% during the fourth quarter. USS Investment Management Ltd now owns 263,372 shares of the information services provider’s stock worth $273,162,000 after buying an additional 32,000 shares in the last quarter. Finally, Vigilant Capital Management LLC lifted its holdings in shares of Alphabet by 6.4% during the fourth quarter. Vigilant Capital Management LLC now owns 183 shares of the information services provider’s stock worth $190,000 after buying an additional 11 shares in the last quarter. 34.42% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Deutsche Bank reissued a “buy” rating and set a $1,380.00 target price (up previously from $1,300.00) on shares of Alphabet in a report on Tuesday, February 5th. BidaskClub raised Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Piper Jaffray Companies lifted their target price on Alphabet from $1,250.00 to $1,355.00 and gave the stock an “overweight” rating in a report on Tuesday, February 5th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $1,327.66.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $10.86 by $1.91. The company had revenue of $39.28 billion for the quarter, compared to analysts’ expectations of $38.91 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $9.70 earnings per share. On average, sell-side analysts predict that Alphabet Inc will post 47.38 earnings per share for the current year.
In other news, CEO Sundar Pichai sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $1,023.13, for a total transaction of $10,231,300.00. Following the sale, the chief executive officer now directly owns 816 shares in the company, valued at $834,874.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 38 shares of the business’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $1,100.00, for a total value of $41,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,437 shares of company stock worth $27,931,021. Company insiders own 13.11% of the company’s stock.
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Alphabet Company Profile
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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