Alphabet Inc. (NASDAQ:GOOG) Stake Lowered by Brown Advisory Securities LLC
Brown Advisory Securities LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the first quarter, Holdings Channel reports. The institutional investor owned 6,029 shares of the information services provider’s stock after selling 35 shares during the period. Alphabet comprises 1.2% of Brown Advisory Securities LLC’s portfolio, making the stock its 16th largest position. Brown Advisory Securities LLC’s holdings in Alphabet were worth $4,991,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the company. Shepherd Financial Partners LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $3,291,000. Worth Venture Partners LLC bought a new stake in Alphabet during the fourth quarter valued at $1,532,000. Norges Bank bought a new stake in Alphabet during the fourth quarter valued at $2,128,163,000. Adviser Investments LLC bought a new stake in Alphabet during the first quarter valued at $1,276,000. Finally, Farmers & Merchants Investments Inc. increased its stake in Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 34.54% of the company’s stock.
Alphabet Inc. (GOOG) traded down 0.9717% on Thursday, hitting $913.9321. 349,460 shares of the stock were exchanged. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $988.25. The company’s 50 day moving average is $939.37 and its 200 day moving average is $888.29. The stock has a market cap of $633.24 billion, a PE ratio of 33.1219 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted $8.42 EPS. On average, equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current year.
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Several analysts recently weighed in on the stock. UBS AG reiterated a “buy” rating and issued a $1,050.00 target price (up previously from $980.00) on shares of Alphabet in a report on Friday, April 28th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Wednesday. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Monday, May 29th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $1,000.00 target price on shares of Alphabet in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,025.24.
In other news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $968.95, for a total value of $177,317.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $937.92, for a total value of $3,751,680.00. Following the completion of the sale, the chief executive officer now directly owns 1,830 shares of the company’s stock, valued at $1,716,393.60. The disclosure for this sale can be found here. Insiders have sold a total of 47,218 shares of company stock valued at $44,511,312 over the last three months. Company insiders own 13.92% of the company’s stock.
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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