Condor Capital Management Reduces Position in Alphabet Inc (GOOG)
Condor Capital Management lessened its stake in Alphabet Inc (NASDAQ:GOOG) by 4.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,915 shares of the information services provider’s stock after selling 98 shares during the period. Condor Capital Management’s holdings in Alphabet were worth $1,740,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Burt Wealth Advisors boosted its position in Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares during the period. Farmers National Bank boosted its position in Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the period. St. Johns Investment Management Company LLC boosted its position in 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 valued at $156,000 after buying an additional 157 shares during the period. Catamount Wealth Management boosted its position in Alphabet by 5.8% in the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after buying an additional 10 shares during the period. Finally, Baker Boyer National Bank purchased a new position in Alphabet in the 2nd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 34.74% of the company’s stock.
Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,005.15 on Wednesday. Alphabet Inc has a 1 year low of $755.80 and a 1 year high of $1,062.38. The firm has a market cap of $705,130.00, a price-to-earnings ratio of 33.82 and a beta of 0.94. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. During the same period in the previous year, the company earned $9.06 earnings per share. Alphabet’s quarterly revenue was up 23.7% compared to the same quarter last year.
Several brokerages have commented on GOOG. Vetr cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,080.50 price target for the company. in a research report on Monday, November 27th. UBS reissued a “buy” rating on shares of Alphabet in a research report on Monday, November 27th. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,150.00 price target on shares of Alphabet in a research report on Thursday, October 19th. Pivotal Research raised their price target on shares of Alphabet from $940.00 to $970.00 and gave the company a “hold” rating in a research report on Thursday, October 12th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirty-nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,047.96.
In other Alphabet news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total value of $36,451.88. Following the transaction, the director now directly owns 1,797 shares in the company, valued at $1,723,790.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total transaction of $175,544.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,396 shares of company stock valued at $34,231,541. 13.92% of the stock is owned by corporate insiders.
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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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