Oppenheimer & Co. Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 20,515 shares of the information services provider’s stock after selling 204 shares during the period. Oppenheimer & Co. Inc.’s holdings in Alphabet were worth $17,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox acquired a new position in shares of Alphabet during the fourth quarter valued at about $2,387,502,000. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at about $2,128,163,000. Bank of Montreal Can increased its position 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 last quarter. Legal & General Group Plc increased its position in shares of Alphabet by 4.3% in the first quarter. Legal & General Group Plc now owns 1,359,262 shares of the information services provider’s stock valued at $1,127,590,000 after buying an additional 55,875 shares during the last quarter. Finally, Putnam Investments LLC increased its position 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 last quarter. 34.54% of the stock is currently owned by institutional investors.

Alphabet Inc. (GOOG) traded up 0.84% during midday trading on Friday, reaching $914.89. 419,873 shares of the company were exchanged. The stock has a market capitalization of $633.91 billion, a price-to-earnings ratio of 33.16 and a beta of 0.94. The firm’s 50-day moving average price is $937.88 and its 200 day moving average price is $888.43. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $25.61 billion. During the same quarter in the prior year, the company earned $8.42 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.

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Several research analysts have issued reports on GOOG shares. MKM Partners reissued a “buy” rating and set a $1,170.00 price objective on shares of Alphabet in a research report on Wednesday, June 28th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Nomura reissued a “buy” rating and set a $985.00 price objective on shares of Alphabet in a research report on Monday, May 1st. Cowen and Company reissued an “outperform” rating and set a $1,075.00 price objective on shares of Alphabet in a research report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and an average price target of $1,026.22.

In related news, VP James Grier Campbell sold 183 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total value of $177,317.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total value of $3,925,800.00. Following the completion of the transaction, the chief executive officer now owns 2,058 shares in the company, valued at approximately $2,019,824.10. The disclosure for this sale can be found here. Insiders sold 44,968 shares of company stock worth $42,387,042 in the last 90 days. 13.92% of the stock is currently owned by corporate insiders.

About Alphabet

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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