Braun Stacey Associates Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,528 shares of the information services provider’s stock after selling 494 shares during the period. Braun Stacey Associates Inc.’s holdings in Alphabet were worth $12,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Finance LLC bought a new position in shares of Alphabet during the fourth quarter worth $115,000. Pacific Center for Financial Services bought a new position in shares of Alphabet during the fourth quarter worth $142,000. Israel Discount Bank of New York GFN bought a new position in shares of Alphabet during the fourth quarter worth $166,000. Hemenway Trust Co LLC bought a new position in shares of Alphabet during the fourth quarter worth $170,000. Finally, Feltz Wealth PLAN Inc. bought a new position in shares of Alphabet during the first quarter worth $170,000. 34.60% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Inc. (GOOG) traded up 0.47% on Friday, hitting $927.96. The stock had a trading volume of 1,081,392 shares. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $988.25. The stock has a market capitalization of $642.96 billion, a price-to-earnings ratio of 33.63 and a beta of 0.94. The company has a 50-day moving average price of $943.17 and a 200-day moving average price of $884.16.

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 the Zacks’ consensus estimate 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%. Alphabet’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.42 EPS. Equities analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.

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A number of research analysts have weighed in on GOOG shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. UBS AG reaffirmed a “buy” rating and issued a $1,050.00 price target (up previously from $980.00) on shares of Alphabet in a research note on Friday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,050.00 price target (up previously from $935.00) on shares of Alphabet in a research note on Friday, April 28th. Macquarie reiterated a “buy” rating and issued a $975.00 price objective on shares of Alphabet in a report on Tuesday, April 18th. Finally, MKM Partners reiterated a “buy” rating and issued a $1,000.00 price objective on shares of Alphabet in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,022.32.

In related news, VP James Grier Campbell sold 184 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $932.38, for a total value of $171,557.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $945.65, for a total value of $1,891,300.00. Following the completion of the sale, the senior vice president now owns 3,800 shares of the company’s stock, valued at approximately $3,593,470. The disclosure for this sale can be found here. Insiders sold a total of 47,218 shares of company stock valued at $44,511,312 in the last 90 days. 13.92% of the stock is currently owned by corporate insiders.

Alphabet Company 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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