Stonebridge Capital Advisors LLC Has $1.74 Million Stake in Alphabet Inc. (GOOG)
Stonebridge Capital Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,095 shares of the information services provider’s stock after selling 95 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Alphabet were worth $1,738,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Boston Common Asset Management LLC boosted its stake in shares of Alphabet by 10.4% in the first quarter. Boston Common Asset Management LLC now owns 14,621 shares of the information services provider’s stock worth $12,129,000 after buying an additional 1,383 shares during the period. Achmea Investment Management B.V. purchased a new stake in shares of Alphabet during the first quarter worth about $22,711,000. Community Trust & Investment Co. boosted its stake in shares of Alphabet by 2.8% in the first quarter. Community Trust & Investment Co. now owns 37,019 shares of the information services provider’s stock worth $30,709,000 after buying an additional 1,008 shares during the period. Community Financial Services Group LLC boosted its stake in shares of Alphabet by 1.2% in the first quarter. Community Financial Services Group LLC now owns 2,093 shares of the information services provider’s stock worth $1,736,000 after buying an additional 24 shares during the period. Finally, City Financial Investment Co Ltd purchased a new stake in shares of Alphabet during the first quarter worth about $3,135,000. 34.57% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ GOOG) traded down 0.76% on Thursday, reaching $919.96. 275,099 shares of the company’s stock were exchanged. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The firm has a 50 day moving average of $934.56 and a 200-day moving average of $891.60. The stock has a market cap of $637.42 billion, a price-to-earnings ratio of 33.34 and a beta of 0.94.
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. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same period in the prior year, the firm earned $8.42 earnings per share. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on GOOG. BidaskClub cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday. Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,034.88 price objective for the company. in a research note on Wednesday. SunTrust Banks, Inc. began coverage on shares of Alphabet in a research note on Wednesday. They issued a “buy” rating and a $1,100.00 price objective for the company. Cowen and Company reissued an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research note on Thursday, August 10th. Finally, MKM Partners reissued a “buy” rating and issued a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and forty have given a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,030.56.
In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the sale, the chief executive officer now directly owns 1,389 shares in the company, valued at $1,287,311.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director L John Doerr sold 13,556 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the sale, the director now owns 3,485 shares in the company, valued at $3,213,692.75. The disclosure for this sale can be found here. Insiders have sold 47,169 shares of company stock worth $44,206,482 over the last 90 days. Insiders own 13.92% of the company’s stock.
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.
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