Kornitzer Capital Management Inc. KS lowered its position in shares of Alphabet Inc (NASDAQ:GOOG) by 20.0% during the third quarter, Holdings Channel reports. The fund owned 14,177 shares of the information services provider’s stock after selling 3,546 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Alphabet were worth $13,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after purchasing an additional 589,654 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares during the last quarter. FMR LLC boosted its holdings in shares of Alphabet by 0.4% in the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after purchasing an additional 62,507 shares during the last quarter. Capital World Investors boosted its holdings in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Alphabet by 3.2% in the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock valued at $4,528,593,000 after purchasing an additional 155,151 shares during the last quarter. Hedge funds and other institutional investors own 34.63% of the company’s stock.

GOOG has been the topic of a number of research analyst reports. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 20th. Wells Fargo & Co reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 6th. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,150.00 target price on shares of Alphabet in a research note on Thursday, October 19th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirty-eight have assigned a buy rating to the company. Alphabet has an average rating of “Buy” and a consensus price target of $1,044.41.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,106.26 on Wednesday. Alphabet Inc has a one year low of $790.52 and a one year high of $1,111.27. The stock has a market cap of $771,140.00, a price-to-earnings ratio of 36.85 and a beta of 0.94. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $27.17 billion. During the same quarter in the previous year, the firm posted $9.06 EPS. The firm’s quarterly revenue was up 23.7% on a year-over-year basis.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $993.58, for a total transaction of $3,974,320.00. Following the completion of the transaction, the chief executive officer now directly owns 1,471 shares of the company’s stock, valued at approximately $1,461,556.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 38 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $1,017.21, for a total transaction of $38,653.98. Following the transaction, the director now directly owns 1,805 shares of the company’s stock, valued at $1,836,064.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,900 shares of company stock valued at $37,877,147. 13.92% of the stock is owned by company 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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