Bray Capital Advisors Reduces Position in Alphabet Inc. (GOOG)
Bray Capital Advisors lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,353 shares of the information services provider’s stock after selling 40 shares during the quarter. Bray Capital Advisors’ holdings in Alphabet were worth $2,138,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Doyle Wealth Management grew its stake in Alphabet by 6.7% during the 2nd quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after buying an additional 200 shares during the last quarter. Adviser Investments LLC purchased a new position in Alphabet during the 1st quarter worth approximately $1,276,000. Rothschild Investment Corp IL grew its stake in Alphabet by 1.7% during the 2nd quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock worth $9,823,000 after buying an additional 184 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in Alphabet by 0.3% during the 1st 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 during the last quarter. Finally, Carret Asset Management LLC grew its stake in Alphabet by 1.5% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 34.52% of the company’s stock.
In related news, SVP David C. Drummond sold 1,496 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the completion of the sale, the senior vice president now directly owns 52 shares in the company, valued at $48,867.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,683 shares of the company’s stock, valued at $1,607,685.75. The disclosure for this sale can be found here. Insiders sold 46,680 shares of company stock valued at $43,521,363 in the last 90 days. Corporate insiders own 13.92% of the company’s stock.
A number of research analysts recently issued reports on GOOG shares. Piper Jaffray Companies restated an “overweight” rating on shares of Alphabet in a research note on Monday, May 22nd. Aegis restated a “buy” rating on shares of Alphabet in a research note on Monday, May 22nd. Deutsche Bank AG restated a “buy” rating on shares of Alphabet in a research note on Monday, May 22nd. Wells Fargo & Company restated an “outperform” rating and set a price target on shares of Alphabet in a research note on Tuesday, May 23rd. Finally, Morgan Stanley restated a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research note on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,031.14.
Alphabet Inc. (GOOG) traded down 0.37% during trading on Monday, reaching $916.85. The company had a trading volume of 561,481 shares. The stock has a market cap of $635.27 billion, a PE ratio of 33.23 and a beta of 0.94. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The company has a 50-day moving average price of $925.04 and a 200 day moving average price of $907.53.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.42 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.
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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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