Steel Canyon Capital LLC lowered its stake in Alphabet Inc (NASDAQ:GOOG) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,801 shares of the information services provider’s stock after selling 1,000 shares during the period. Alphabet accounts for approximately 6.9% of Steel Canyon Capital LLC’s holdings, making the stock its 7th biggest holding. Steel Canyon Capital LLC’s holdings in Alphabet were worth $6,180,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Perennial Advisors LLC boosted its holdings in Alphabet by 8.7% in the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after acquiring an additional 260 shares in the last quarter. One Capital Management LLC boosted its holdings in Alphabet by 5.0% in the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after acquiring an additional 154 shares in the last quarter. Doyle Wealth Management boosted its holdings in Alphabet by 6.7% in the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock valued at $2,891,000 after acquiring an additional 200 shares in the last quarter. Northeast Investment Management boosted its holdings in Alphabet by 4.4% in the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock valued at $11,521,000 after acquiring an additional 537 shares in the last quarter. Finally, Taurus Asset Management LLC boosted its holdings in Alphabet by 0.9% in the second quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock valued at $23,591,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 34.74% of the company’s stock.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $924.36, for a total value of $3,697,440.00. Following the completion of the transaction, the chief executive officer now owns 1,324 shares of the company’s stock, valued at approximately $1,223,852.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $959.26, for a total value of $175,544.58. The disclosure for this sale can be found here. In the last three months, insiders sold 38,396 shares of company stock valued at $38,242,981. 13.92% of the stock is owned by insiders.

Alphabet Inc (NASDAQ:GOOG) opened at $1,037.05 on Monday. Alphabet Inc has a 52-week low of $770.41 and a 52-week high of $1,062.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market capitalization of $724,800.00, a PE ratio of 34.72 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. During the same quarter in the previous year, the firm earned $9.06 EPS. Alphabet’s revenue was up 23.7% on a year-over-year basis.

A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Royal Bank Of Canada restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,084.59 target price on the stock in a report on Wednesday, November 29th. Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Robert W. Baird restated an “outperform” rating and set a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have given a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,047.45.

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About Alphabet

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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