Inverness Counsel LLC NY reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,585 shares of the information services provider’s stock after selling 297 shares during the quarter. Inverness Counsel LLC NY’s holdings in Alphabet were worth $5,075,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Riggs Asset Managment Co. Inc. raised its stake in shares of Alphabet by 39.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the period. Farmers National Bank raised its stake 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 buying an additional 21 shares during the period. St. Johns Investment Management Company LLC raised its stake in shares of Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the period. Cribstone Capital Management LLC raised its stake in shares of Alphabet by 5.7% in the second quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock valued at $167,000 after buying an additional 10 shares during the period. Finally, Feltz Wealth PLAN Inc. bought a new stake in shares of Alphabet in the first quarter valued at $170,000. Institutional investors and hedge funds own 34.52% of the company’s stock.

Alphabet Inc. (NASDAQ:GOOG) opened at 944.49 on Thursday. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The company has a market cap of $654.42 billion, a price-to-earnings ratio of 34.23 and a beta of 0.94. The firm’s 50-day moving average price is $924.03 and its 200-day moving average price is $909.94.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business 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 business earned $8.42 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.

In other Alphabet news, Director Ann Mather sold 629 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $932.28, for a total transaction of $586,404.12. Following the completion of the transaction, the director now owns 1,781 shares in the company, valued at $1,660,390.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $903.86, for a total value 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. Insiders have sold 42,680 shares of company stock valued at $39,700,363 in the last 90 days. Company insiders own 13.92% of the company’s stock.

Several analysts have issued reports on the company. UBS AG restated a “buy” rating and issued a $1,080.00 target price on shares of Alphabet in a research note on Tuesday, July 25th. Barclays PLC restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Robert W. Baird restated an “outperform” rating and issued a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and forty have given a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,035.40.

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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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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