RS Investment Management Co. LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 27.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 20,100 shares of the company’s stock after selling 7,761 shares during the period. RS Investment Management Co. LLC’s holdings in Alphabet were worth $13,911,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. D. Scott Neal Inc. raised its position in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the period. Cacti Asset Management LLC bought a new position in shares of Alphabet during the second quarter valued at $159,000. Stewart & Patten Co. LLC raised its position in shares of Alphabet by 1.3% in the second quarter. Stewart & Patten Co. LLC now owns 323 shares of the company’s stock valued at $224,000 after buying an additional 4 shares during the period. Clarkston Capital Partners LLC raised its position in shares of Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock valued at $229,000 after buying an additional 43 shares during the period. Finally, Kanaly Trust Co raised its position in shares of Alphabet by 3.0% in the second quarter. Kanaly Trust Co now owns 340 shares of the company’s stock valued at $235,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 34.39% of the company’s stock.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% during midday trading on Friday, reaching $778.53. The company’s stock had a trading volume of 852,487 shares. The company has a market capitalization of $535.06 billion, a price-to-earnings ratio of 30.17 and a beta of 1.03. The stock has a 50 day moving average price of $774.66 and a 200-day moving average price of $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 earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.99 EPS. Equities research analysts expect that Alphabet Inc. will post $34.14 EPS for the current year.

Several research analysts have recently commented on the stock. Credit Suisse Group AG reissued an “outperform” rating and issued a $940.00 price objective (up previously from $920.00) on shares of Alphabet in a research note on Friday, July 29th. Evercore ISI reissued a “buy” rating and issued a $830.00 price objective (down previously from $950.00) on shares of Alphabet in a research note on Thursday, June 23rd. Atlantic Securities set a $910.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 29th. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $760.24 price objective for the company in a research note on Monday, June 27th. Finally, JPMorgan Chase & Co. set a $920.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $926.55.

In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $781.81, for a total transaction of $3,127,240.00. Following the sale, the chief executive officer now owns 3,231 shares of the company’s stock, valued at approximately $2,526,028.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Grier Campbell sold 194 shares of Alphabet stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $774.25, for a total value of $150,204.50. The disclosure for this sale can be found here. 13.92% of the stock is owned by company insiders.

About Alphabet

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.

5 Day Chart for NASDAQ:GOOG

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