Alphabet Inc. (GOOG) is Seaward Management Limited Partnership’s 5th Largest Position
Seaward Management Limited Partnership raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 75,336 shares of the company’s stock after buying an additional 895 shares during the period. Alphabet comprises approximately 2.9% of Seaward Management Limited Partnership’s investment portfolio, making the stock its 5th largest position. Seaward Management Limited Partnership’s holdings in Alphabet were worth $52,140,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Bank of Montreal Can purchased a new stake in shares of Alphabet during the second quarter worth approximately $927,982,000. Jana Partners LLC purchased a new stake in shares of Alphabet during the first quarter worth approximately $472,266,000. Bessemer Group Inc. bought a new position in Alphabet during the first quarter worth approximately $402,406,000. Pennant Capital Management LLC bought a new position in Alphabet during the first quarter worth approximately $145,638,000. Finally, Svenska Handelsbanken AB publ raised 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 in the last quarter. Hedge funds and other institutional investors own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% during midday trading on Friday, hitting $778.53. The company had a trading volume of 852,487 shares. The firm has a market capitalization of $535.06 billion, a P/E ratio of 30.17 and a beta of 1.03. Alphabet Inc. has a 1-year low of $641.73 and a 1-year high of $792.28. The company has a 50 day moving average price of $774.66 and a 200 day moving average price of $741.88.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. During the same period last year, the firm earned $6.99 EPS. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post $34.14 earnings per share for the current fiscal year.
GOOG has been the topic of a number of recent analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $900.00 price objective on shares of Alphabet in a research note on Saturday, June 18th. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $778.71 price target on the stock in a research note on Monday, June 20th. Pacific Crest restated an “overweight” rating and set a $910.00 price objective on shares of Alphabet in a report on Thursday, June 23rd. Evercore ISI restated a “buy” rating and set a $830.00 price objective (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $810.00 price objective (down previously from $850.00) on shares of Alphabet in a report on Wednesday, June 29th. One research 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 given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $926.55.
In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $781.81, for a total value 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 approximately $2,526,028.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sergey Brin sold 33,332 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $748.75, for a total transaction of $24,957,335.00. Following the completion of the transaction, the insider now directly owns 16,666 shares in the company, valued at $12,478,667.50. 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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