Orca Investment Management LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOG) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,765 shares of the information services provider’s stock after selling 31 shares during the period. Alphabet accounts for 2.3% of Orca Investment Management LLC’s investment portfolio, making the stock its 13th biggest holding. Orca Investment Management LLC’s holdings in Alphabet were worth $2,513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Cambridge Advisors Inc. boosted its stake in shares of Alphabet by 0.4% during the 1st quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock valued at $226,000 after buying an additional 1 shares during the period. Lederer & Associates Investment Counsel CA boosted its stake in shares of Alphabet by 0.4% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock valued at $905,000 after buying an additional 4 shares during the period. Hodges Capital Management Inc. boosted its stake in shares of Alphabet by 1.4% during the 1st quarter. Hodges Capital Management Inc. now owns 298 shares of the information services provider’s stock valued at $247,000 after buying an additional 4 shares during the period. CGOV Asset Management boosted its stake in shares of Alphabet by 0.4% during the 1st quarter. CGOV Asset Management now owns 1,405 shares of the information services provider’s stock valued at $1,553,000 after buying an additional 5 shares during the period. Finally, Naples Global Advisors LLC boosted its stake in shares of Alphabet by 0.7% during the 1st quarter. Naples Global Advisors LLC now owns 690 shares of the information services provider’s stock valued at $572,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 34.53% of the company’s stock.

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In related news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the sale, the chief executive officer now directly owns 1,536 shares of the company’s stock, valued at approximately $1,489,797.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director L John Doerr sold 13,556 shares of Alphabet stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the sale, the director now directly owns 3,485 shares in the company, valued at $3,213,692.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,694 shares of company stock worth $39,941,804. Insiders own 13.92% of the company’s stock.

Shares of Alphabet Inc (GOOG) traded up 0.92% during mid-day trading on Friday, reaching $978.89. 1,173,882 shares of the company’s stock traded hands. Alphabet Inc has a 12 month low of $727.54 and a 12 month high of $988.25. The firm has a 50 day moving average price of $932.79 and a 200-day moving average price of $918.65. The stock has a market cap of $678.25 billion, a PE ratio of 35.48 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 13.55% and a return on equity of 9.64%. The firm had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same period last year, the firm earned $8.42 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, analysts predict that Alphabet Inc will post $30.59 earnings per share for the current fiscal year.

A number of brokerages have issued reports on GOOG. UBS AG reissued a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a research note on Tuesday, July 25th. Barclays PLC reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. J P Morgan Chase & Co reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Robert W. Baird reissued an “outperform” rating and set a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,034.31.

Alphabet 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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