Wittenberg Investment Management Inc. maintained its position in Alphabet Inc (NASDAQ:GOOG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,836 shares of the information services provider’s stock at the end of the 2nd quarter. Alphabet makes up approximately 4.1% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 5th biggest position. Wittenberg Investment Management Inc.’s holdings in Alphabet were worth $8,938,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Perennial Advisors LLC grew its stake in Alphabet by 8.7% in the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after buying an additional 260 shares during the last quarter. One Capital Management LLC grew its stake in Alphabet by 5.0% in the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after buying an additional 154 shares during the last quarter. Doyle Wealth Management grew its stake in Alphabet by 6.7% in the 2nd quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock valued at $2,891,000 after buying an additional 200 shares during the last quarter. Northeast Investment Management grew its position in Alphabet by 4.4% in the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after purchasing an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC grew its position in Alphabet by 0.9% in the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 34.74% of the company’s stock.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,030.93 on Friday. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1 year low of $767.23 and a 1 year high of $1,062.38. The stock has a market cap of $721,310.00, a price-to-earnings ratio of 33.65 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm earned $9.06 earnings per share.

In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $958.40, for a total value of $3,833,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 38 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $959.26, for a total transaction of $36,451.88. Following the completion of the transaction, the director now directly owns 1,797 shares of the company’s stock, valued at approximately $1,723,790.22. The disclosure for this sale can be found here. Insiders sold 38,396 shares of company stock worth $38,242,981 over the last three months. Insiders own 13.92% of the company’s stock.

Several analysts have issued reports on the stock. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,065.12 price target on the stock. in a research report on Thursday. BidaskClub lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. MKM Partners reiterated a “buy” rating and set a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Bank of America reissued a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a report on Tuesday, September 26th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have assigned a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $1,047.45.

ILLEGAL ACTIVITY WARNING: “Wittenberg Investment Management Inc. Continues to Hold Stake in Alphabet Inc (GOOG)” was posted by Watch List News and is the property of of Watch List News. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.watchlistnews.com/wittenberg-investment-management-inc-continues-to-hold-stake-in-alphabet-inc-goog/1750816.html.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.