Nexus Investment Management Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,991 shares of the information services provider’s stock after selling 71 shares during the period. Alphabet comprises 2.7% of Nexus Investment Management Inc.’s portfolio, making the stock its 21st largest holding. Nexus Investment Management Inc.’s holdings in Alphabet were worth $16,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers National Bank boosted its position in shares of Alphabet by 15.0% during the first 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 last quarter. Feltz Wealth PLAN Inc. purchased a new position in Alphabet in the 1st quarter worth about $170,000. Baker Boyer National Bank purchased a new position in Alphabet in the 2nd quarter worth about $200,000. Trust Department MB Financial Bank N A raised its position in Alphabet by 29.4% in the 2nd quarter. Trust Department MB Financial Bank N A now owns 220 shares of the information services provider’s stock worth $200,000 after buying an additional 50 shares during the last quarter. Finally, Palo Capital Inc. purchased a new position in Alphabet in the 1st quarter worth about $202,000. Hedge funds and other institutional investors own 34.53% of the company’s stock.

In other news, Director Shirley M. Tilghman sold 525 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $938.09, for a total transaction of $492,497.25. Following the completion of the transaction, the director now directly owns 5,517 shares in the company, valued at $5,175,442.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $903.86, for a total value of $3,615,440.00. Following the transaction, the chief executive officer now owns 1,911 shares of the company’s stock, valued at $1,727,276.46. The disclosure for this sale can be found here. Insiders sold a total of 42,473 shares of company stock worth $39,511,648 over the last three months. Insiders own 13.92% of the company’s stock.

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Shares of Alphabet Inc. (GOOG) traded down 0.56% during midday trading on Monday, hitting $953.75. 625,673 shares of the stock traded hands. The company’s 50 day moving average price is $924.03 and its 200-day moving average price is $909.94. The stock has a market cap of $660.83 billion, a price-to-earnings ratio of 34.56 and a beta of 0.94. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. During the same quarter last year, the firm posted $8.42 earnings per share. Alphabet’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post $30.59 EPS for the current year.

Several equities analysts have issued reports on GOOG shares. Moffett Nathanson restated a “buy” rating on shares of Alphabet in a research note on Friday, June 9th. Vetr raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $924.24 price target on the stock in a report on Monday, June 12th. Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research note on Monday, June 12th. Canaccord Genuity lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target for the company. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,034.31.

Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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