Atalanta Sosnoff Capital LLC Has $14,221,000 Position in Alphabet Inc. (GOOG)
Atalanta Sosnoff Capital LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 66.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,548 shares of the company’s stock after selling 41,024 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Alphabet were worth $14,221,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of GOOG. Bank of Montreal Can acquired a new position in Alphabet during the second quarter worth $927,982,000. Jana Partners LLC acquired a new position in Alphabet during the first quarter worth $472,266,000. Bessemer Group Inc. acquired a new position in Alphabet during the first quarter worth $402,406,000. Pennant Capital Management LLC acquired a new position in Alphabet during the first quarter worth $145,638,000. Finally, Svenska Handelsbanken AB publ boosted its position in Alphabet by 11,203.0% in the second quarter. Svenska Handelsbanken AB publ now owns 192,603 shares of the company’s stock worth $133,301,000 after buying an additional 190,899 shares during the last quarter. 34.39% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% during midday trading on Friday, hitting $778.53. 852,487 shares of the stock were exchanged. The stock has a market cap of $535.06 billion, a price-to-earnings ratio of 30.17 and a beta of 1.03. The firm’s 50-day moving average is $774.66 and its 200 day moving average is $741.88. Alphabet Inc. has a 52 week low of $641.73 and a 52 week high of $792.28.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The company earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $6.99 EPS. Equities research analysts expect that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
A number of research firms recently weighed in on GOOG. Sanford C. Bernstein set a $950.00 price target on Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. JMP Securities set a $928.00 price target on Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Robert W. Baird set a $900.00 price target on Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $940.00 price target (up previously from $920.00) on shares of Alphabet in a report on Friday, July 29th. Finally, Atlantic Securities set a $910.00 price objective on Alphabet and gave the stock a “buy” rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $926.55.
In related news, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total transaction of $462,609.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $781.81, for a total transaction of $3,127,240.00. Following the transaction, the chief executive officer now directly owns 3,231 shares of the company’s stock, valued at $2,526,028.11. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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