Alphabet Inc. (GOOG) Shares Sold by Beacon Financial Group
Beacon Financial Group cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 975 shares of the information services provider’s stock after selling 18 shares during the quarter. Beacon Financial Group’s holdings in Alphabet were worth $895,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GOOG. Farmers National Bank raised its position in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after purchasing an additional 21 shares during the period. Feltz Wealth PLAN Inc. bought a new position in Alphabet during the first quarter worth about $170,000. Pinnacle Bank bought a new position in Alphabet during the first quarter worth about $181,000. Palo Capital Inc. bought a new position in Alphabet during the first quarter worth about $202,000. Finally, BTC Capital Management Inc. bought a new position in Alphabet during the first quarter worth about $209,000. 34.52% of the stock is currently owned by institutional investors.
Shares of Alphabet Inc. (GOOG) traded down 0.25% during trading on Monday, hitting $917.96. 476,144 shares of the company were exchanged. The company has a 50 day moving average of $925.04 and a 200-day moving average of $907.53. The stock has a market capitalization of $636.04 billion, a PE ratio of 33.27 and a beta of 0.94. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $25.61 billion. During the same period last year, the firm posted $8.42 earnings per share. Alphabet’s revenue was up 21.0% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.
In other Alphabet news, Director L John Doerr sold 13,556 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at $3,213,692.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $955.25, for a total value of $3,821,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,683 shares in the company, valued at $1,607,685.75. The disclosure for this sale can be found here. Insiders have sold 46,680 shares of company stock worth $43,521,363 over the last ninety days. 13.92% of the stock is currently owned by insiders.
GOOG has been the topic of a number of recent research reports. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, June 28th. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price target on the stock. in a research report on Wednesday, August 30th. Canaccord Genuity lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target on the stock. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-one have given a buy rating to the company. Alphabet has an average rating of “Buy” and an average target price of $1,031.14.
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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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