IFP Advisors Inc cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,550 shares of the information services provider’s stock after selling 1,435 shares during the period. IFP Advisors Inc’s holdings in Alphabet were worth $5,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Riggs Asset Managment Co. Inc. raised its position in shares of Alphabet by 39.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after acquiring an additional 40 shares in the last quarter. Farmers National Bank raised its position in shares of Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after acquiring an additional 21 shares in the last quarter. St. Johns Investment Management Company LLC raised its position in shares of Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after acquiring an additional 157 shares in the last quarter. Cribstone Capital Management LLC raised its position in shares of Alphabet by 5.7% in the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after acquiring an additional 10 shares in the last quarter. Finally, Baker Boyer National Bank bought a new position in shares of Alphabet in the 2nd quarter worth $200,000. 34.52% of the stock is owned by institutional investors and hedge funds.

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GOOG has been the subject of several recent research reports. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price target for the company in a research report on Monday, June 26th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research note on Wednesday, June 28th. MKM Partners restated a “buy” rating and set a $1,170.00 target price on shares of Alphabet in a research note on Wednesday, June 28th. Susquehanna Bancshares Inc restated a “positive” rating and set a $1,200.00 target price on shares of Alphabet in a research note on Wednesday, June 28th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $1,036.51.

In other news, VP James Grier Campbell sold 184 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $932.38, for a total value of $171,557.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 629 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $932.28, for a total transaction of $586,404.12. Following the completion of the transaction, the director now owns 1,781 shares of the company’s stock, valued at $1,660,390.68. The disclosure for this sale can be found here. Insiders sold 40,694 shares of company stock valued at $38,136,904 over the last quarter. Insiders own 13.92% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ GOOG) opened at 988.20 on Friday. The stock has a market cap of $684.70 billion, a price-to-earnings ratio of 35.81 and a beta of 0.94. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $997.21. The stock’s 50 day moving average price is $951.53 and its 200 day moving average price is $930.09.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business’s revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm posted $8.42 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post $30.64 EPS for the current fiscal year.

Alphabet Company Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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