Probity Advisors Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 258 shares of the information services provider’s stock after selling 28 shares during the quarter. Probity Advisors Inc.’s holdings in Alphabet were worth $234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Alphabet by 0.3% in the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after acquiring an additional 36,864 shares during the period. Harbour Capital Advisors LLC boosted its holdings in Alphabet by 87,001.5% in the 2nd 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 period. Legal & General Group Plc boosted its holdings in Alphabet by 4.3% in the 1st quarter. Legal & General Group Plc now owns 1,359,262 shares of the information services provider’s stock worth $1,127,590,000 after acquiring an additional 55,875 shares during the period. Sanders Capital LLC boosted its holdings in Alphabet by 37.1% in the 1st 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 period. Finally, Russell Investments Group Ltd. boosted its holdings in Alphabet by 8.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 952,586 shares of the information services provider’s stock worth $865,829,000 after acquiring an additional 75,587 shares during the period. Hedge funds and other institutional investors own 34.53% of the company’s stock.

Alphabet Inc. (NASDAQ GOOG) opened at 977.00 on Tuesday. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The company’s 50-day moving average price is $934.69 and its 200 day moving average price is $921.09. The company has a market cap of $676.94 billion, a PE ratio of 35.41 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. The company had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.42 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.

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In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $958.40, for a total transaction of $3,833,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the sale, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,694 shares of company stock valued at $39,941,804. 13.92% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on GOOG shares. Citigroup Inc. restated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a report 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 Alphabet from a “hold” rating to a “buy” rating and set a $995.83 target price for the company in a research note on Monday, June 26th. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Alphabet in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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