MAI Capital Management Has $7.67 Million Position in Alphabet Inc. (GOOG)
MAI Capital Management decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,441 shares of the information services provider’s stock after selling 243 shares during the quarter. MAI Capital Management’s holdings in Alphabet were worth $7,671,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in GOOG. Harbour Capital Advisors LLC increased its stake in Alphabet by 87,001.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after acquiring an additional 1,991,465 shares during the last quarter. Sanders Capital LLC increased its stake in Alphabet by 37.1% during the first quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock worth $1,019,026,000 after acquiring an additional 324,596 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in Alphabet by 35.8% during the first quarter. Pictet Asset Management Ltd. now owns 422,437 shares of the information services provider’s stock worth $350,437,000 after acquiring an additional 111,292 shares during the last quarter. Arthur M. Cohen & Associates LLC acquired a new stake in Alphabet during the second quarter worth $4,914,000. Finally, Karp Capital Management Corp acquired a new stake in Alphabet during the first quarter worth $82,519,000. Hedge funds and other institutional investors own 34.43% of the company’s stock.
Several equities research analysts have issued reports on GOOG shares. J P Morgan Chase & Co reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price objective for the company. in a research note on Wednesday, August 30th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, October 25th. UBS AG reaffirmed a “buy” rating and issued a $1,080.00 price objective on shares of Alphabet in a research note on Monday, September 11th. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $1,077.00 price objective on shares of Alphabet in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have assigned a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,047.52.
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Shares of Alphabet Inc. (GOOG) opened at $1,019.09 on Monday. Alphabet Inc. has a fifty-two week low of $737.02 and a fifty-two week high of $1,048.39. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $708,064.81, a P/E ratio of 34.12 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. During the same quarter in the prior year, the company earned $9.06 EPS. Alphabet’s revenue was up 23.7% on a year-over-year basis.
In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1,020.69, for a total value of $4,082,760.00. Following the sale, the chief executive officer now owns 949 shares of the company’s stock, valued at approximately $968,634.81. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director L John Doerr sold 12,236 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at approximately $3,560,171.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,394 shares of company stock worth $37,937,930. 13.92% of the stock is owned by corporate 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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