Bridge Creek Capital Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 3,584 shares of the information services provider’s stock after selling 41 shares during the period. Alphabet comprises approximately 1.8% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 25th largest position. Bridge Creek Capital Management LLC’s holdings in Alphabet were worth $3,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gradient Investments LLC raised its position in shares of Alphabet by 0.6% in the second quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock valued at $460,000 after buying an additional 3 shares during the last quarter. Sheets Smith Wealth Management raised its stake in Alphabet by 13.0% in the second quarter. Sheets Smith Wealth Management now owns 5,211 shares of the information services provider’s stock worth $4,735,000 after buying an additional 599 shares in the last quarter. Prospera Financial Services Inc raised its stake in Alphabet by 30.2% in the second quarter. Prospera Financial Services Inc now owns 1,801 shares of the information services provider’s stock worth $1,636,000 after buying an additional 418 shares in the last quarter. State Treasurer State of Michigan raised its stake in Alphabet by 1.0% in the second quarter. State Treasurer State of Michigan now owns 98,017 shares of the information services provider’s stock worth $89,071,000 after buying an additional 1,000 shares in the last quarter. Finally, BTIM Corp. raised its stake in Alphabet by 18.5% in the second quarter. BTIM Corp. now owns 126,069 shares of the information services provider’s stock worth $114,562,000 after buying an additional 19,655 shares in the last quarter. Institutional investors and hedge funds own 34.57% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.94% during trading on Wednesday, reaching $930.92. The company’s stock had a trading volume of 508,322 shares. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The company has a market capitalization of $645.01 billion, a price-to-earnings ratio of 33.74 and a beta of 0.94. The firm’s 50-day moving average price is $934.57 and its 200-day moving average price is $891.34.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter in the previous year, the firm posted $8.42 EPS. The firm’s revenue was up 21.0% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.

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A number of analysts have recently issued reports on the stock. Canaccord Genuity lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective on the stock. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reissued a “hold” rating and set a $980.00 price target (down previously from $990.00) on shares of Alphabet in a research report on Monday, July 17th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $1,200.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. Credit Suisse Group lifted their price objective on shares of Alphabet from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. Alphabet has an average rating of “Buy” and an average target price of $1,031.10.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the completion of the sale, the chief executive officer now owns 2,058 shares of the company’s stock, valued at approximately $2,019,824.10. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the completion of the sale, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,169 shares of company stock valued at $40,499,322. 13.92% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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