Keel Point LLC Sells 2 Shares of Alphabet Inc. (NASDAQ:GOOG)
Keel Point LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the first quarter, Holdings Channel reports. The firm owned 528 shares of the information services provider’s stock after selling 2 shares during the period. Keel Point LLC’s holdings in Alphabet were worth $438,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in GOOG. Pacific Center for Financial Services acquired a new position in shares of Alphabet during the fourth quarter worth about $142,000. Israel Discount Bank of New York GFN acquired a new position in shares of Alphabet during the fourth quarter worth about $166,000. Feltz Wealth PLAN Inc. acquired a new position in shares of Alphabet during the first quarter worth about $170,000. Pinnacle Bank acquired a new position in shares of Alphabet during the first quarter worth about $181,000. Finally, Palo Capital Inc. acquired a new position in shares of Alphabet during the first quarter worth about $202,000. Institutional investors and hedge funds own 34.54% of the company’s stock.
Alphabet Inc. (NASDAQ GOOG) traded up 0.79% during trading on Friday, reaching $914.42. The company had a trading volume of 451,191 shares. The firm’s 50 day moving average is $937.88 and its 200 day moving average is $888.43. 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 $633.58 billion, a PE ratio of 33.14 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 (EPS) for the quarter, topping the consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter in the prior year, the firm earned $8.42 earnings per share. Alphabet’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.
GOOG has been the subject of a number of recent analyst reports. Macquarie restated a “buy” rating and issued a $975.00 price objective on shares of Alphabet in a research note on Tuesday, April 18th. MKM Partners restated a “buy” rating and issued a $1,000.00 price objective on shares of Alphabet in a research note on Tuesday, April 25th. Nomura restated a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a research note on Monday, April 24th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $1,050.00 price objective (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, April 28th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. 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 assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,026.22.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $937.92, for a total value of $3,751,680.00. Following the transaction, the chief executive officer now owns 1,830 shares of the company’s stock, valued at $1,716,393.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director L John Doerr sold 13,355 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $935.93, for a total value of $12,499,345.15. Following the completion of the transaction, the director now directly owns 3,468 shares in the company, valued at approximately $3,245,805.24. The disclosure for this sale can be found here. In the last three months, insiders sold 44,968 shares of company stock worth $42,387,042. 13.92% of the stock is owned by insiders.
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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