Congress Asset Management Co. MA trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 30.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,597 shares of the information services provider’s stock after selling 4,298 shares during the quarter. Congress Asset Management Co. MA’s holdings in Alphabet were worth $8,721,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its holdings in Alphabet by 0.3% in the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock valued at $10,010,859,000 after purchasing an additional 36,864 shares during the last quarter. Legal & General Group Plc boosted its holdings in Alphabet by 4.3% in the 1st quarter. Legal & General Group Plc now owns 1,359,262 shares of the information services provider’s stock valued at $1,127,590,000 after purchasing an additional 55,875 shares during the last quarter. Sanders Capital LLC boosted its holdings in Alphabet by 37.1% in the 1st quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock valued at $1,019,026,000 after purchasing an additional 324,596 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Alphabet by 8.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 952,586 shares of the information services provider’s stock valued at $865,829,000 after purchasing an additional 75,587 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Alphabet by 6.8% in the 1st quarter. Clearbridge Investments LLC now owns 943,421 shares of the information services provider’s stock valued at $782,624,000 after purchasing an additional 59,992 shares during the last quarter. Institutional investors own 34.52% of the company’s stock.

Shares of Alphabet Inc. (GOOG) opened at 920.97 on Tuesday. The company’s 50-day moving average is $924.03 and its 200-day moving average is $909.94. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a market cap of $638.12 billion, a PE ratio of 33.38 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, beating the 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 during the quarter, compared to analyst estimates of $25.61 billion. During the same quarter in the previous year, the firm earned $8.42 earnings per share. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post $30.59 EPS for the current fiscal year.

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In other news, SVP David C. Drummond sold 1,496 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the completion of the transaction, the senior vice president now owns 52 shares in the company, valued at $48,867.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $903.86, for a total transaction of $3,615,440.00. Following the transaction, the chief executive officer now owns 1,911 shares of the company’s stock, valued at approximately $1,727,276.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,680 shares of company stock valued at $39,700,363. 13.92% of the stock is owned by insiders.

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday. Robert W. Baird reiterated an “outperform” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Monday, September 11th. Finally, UBS AG reiterated a “buy” rating and issued a $1,080.00 target price on shares of Alphabet in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and forty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $1,033.79.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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