Lagoda Investment Management L.P. Sells 3,266 Shares of Alphabet Inc. (GOOG)
Lagoda Investment Management L.P. decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,937 shares of the information services provider’s stock after selling 3,266 shares during the period. Alphabet comprises about 7.7% of Lagoda Investment Management L.P.’s portfolio, making the stock its 6th largest position. Lagoda Investment Management L.P.’s holdings in Alphabet were worth $19,857,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Dodge & Cox bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,387,502,000. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter valued at $2,128,163,000. Putnam Investments LLC boosted its stake in shares of Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock valued at $844,967,000 after buying an additional 366,456 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alphabet during the fourth quarter valued at $249,975,000. Finally, Bank of Montreal Can boosted its stake in shares of Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock valued at $1,404,065,000 after buying an additional 181,085 shares during the period. 34.54% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ GOOG) traded up 0.79% on Friday, reaching $914.39. 1,206,782 shares of the company traded hands. The stock has a market capitalization of $633.56 billion, a P/E ratio of 33.14 and a beta of 0.94. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The stock’s 50 day moving average price is $936.66 and its 200-day moving average price is $889.11.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter in the previous year, the business posted $8.42 EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
Several analysts have weighed in on GOOG shares. Citigroup Inc. reiterated a “buy” rating and issued a $1,180.00 price objective on shares of Alphabet in a research note on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research note on Monday, June 12th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price objective for the company in a research note on Monday, June 26th. Instinet reiterated a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a research note on Wednesday, April 26th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,026.22.
In other news, Director L John Doerr sold 13,355 shares of Alphabet stock in a transaction dated 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 owns 3,468 shares of the company’s stock, valued at approximately $3,245,805.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James Grier Campbell sold 184 shares of Alphabet stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $932.38, for a total value of $171,557.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,968 shares of company stock worth $42,387,042. 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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