Pensionfund DSM Netherlands Lowers Stake in Alphabet Inc. (GOOG)
Pensionfund DSM Netherlands trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,150 shares of the information services provider’s stock after selling 2,950 shares during the quarter. Alphabet accounts for 1.1% of Pensionfund DSM Netherlands’ investment portfolio, making the stock its 11th largest holding. Pensionfund DSM Netherlands’ holdings in Alphabet were worth $7,406,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of GOOG. Adviser Investments LLC bought a new stake in Alphabet during the first quarter worth $1,276,000. Farmers & Merchants Investments Inc. grew its holdings in Alphabet by 0.3% during the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock worth $4,533,000 after buying an additional 18 shares in the last quarter. Carret Asset Management LLC grew its holdings in Alphabet by 1.5% during the first quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock worth $8,281,000 after buying an additional 145 shares in the last quarter. Hartford Investment Management Co. grew its holdings in Alphabet by 6.1% during the first quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock worth $65,974,000 after buying an additional 4,602 shares in the last quarter. Finally, Financial Consulate Inc. bought a new stake in Alphabet during the first quarter worth $215,000. 34.55% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on GOOG shares. Vetr upgraded Alphabet from a “sell” rating to a “hold” rating and set a $907.74 price target for the company in a report on Wednesday, May 17th. Robert W. Baird reiterated an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a report on Friday, May 19th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Alphabet in a report on Monday, May 22nd. Aegis reiterated a “buy” rating on shares of Alphabet in a report on Monday, May 22nd. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $1,031.14.
In other Alphabet news, Director Ann Mather sold 37 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $940.67, for a total transaction of $34,804.79. Following the sale, the director now directly owns 1,789 shares in the company, valued at $1,682,858.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David C. Drummond sold 1,496 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total value of $1,405,880.96. Following the sale, the senior vice president now owns 52 shares in the company, valued at $48,867.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,680 shares of company stock worth $43,521,363. Company insiders own 13.92% of the company’s stock.
Alphabet Inc. (GOOG) traded up 0.28% during trading on Wednesday, reaching $934.70. The company had a trading volume of 510,070 shares. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The company has a market capitalization of $647.63 billion, a PE ratio of 33.87 and a beta of 0.94. The firm’s 50 day moving average is $927.90 and its 200 day moving average is $905.79.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. During the same period in the previous year, the business earned $8.42 earnings per share. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.
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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