Scott & Selber Inc. cut its stake in Alphabet Inc (NASDAQ:GOOG) by 62.1% in the second quarter, HoldingsChannel.com reports. The fund owned 2,277 shares of the information services provider’s stock after selling 3,726 shares during the period. Scott & Selber Inc.’s holdings in Alphabet were worth $2,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of Alphabet by 102,010.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after buying an additional 56,169,241 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Alphabet by 0.6% in the fourth quarter. BlackRock Inc. now owns 19,618,313 shares of the information services provider’s stock worth $20,316,919,000 after buying an additional 125,866 shares during the last quarter. Lunia Capital LP boosted its holdings in shares of Alphabet by 135,522.5% in the fourth quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock worth $16,870,000 after buying an additional 16,857,647 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Alphabet by 4.3% in the fourth quarter. Jennison Associates LLC now owns 1,871,132 shares of the information services provider’s stock worth $1,937,763,000 after buying an additional 76,345 shares during the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of Alphabet by 3.5% in the second quarter. Sanders Capital LLC now owns 1,267,225 shares of the information services provider’s stock worth $1,495,736,000 after buying an additional 42,535 shares during the last quarter. Hedge funds and other institutional investors own 33.98% of the company’s stock.

In related news, CAO Amie Thuener O’toole sold 69 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total value of $71,960.10. Following the sale, the chief accounting officer now owns 388 shares in the company, valued at $404,645.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 75 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $1,238.57, for a total transaction of $92,892.75. Following the completion of the sale, the director now owns 276 shares in the company, valued at approximately $341,845.32. The disclosure for this sale can be found here. Insiders sold 2,123 shares of company stock worth $2,553,758 in the last three months. Insiders own 12.99% of the company’s stock.

Several brokerages have weighed in on GOOG. Oppenheimer lifted their price target on shares of Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a report on Friday, July 26th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, July 13th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Bank of America reaffirmed a “buy” rating and set a $1,450.00 price target (up previously from $1,350.00) on shares of Alphabet in a report on Friday, July 26th. Finally, Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price target on the stock. in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $1,373.93.

Shares of GOOG stock traded down $30.75 during mid-day trading on Wednesday, hitting $1,166.52. The company had a trading volume of 36,773 shares, compared to its average volume of 1,506,290. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27. The company has a 50 day simple moving average of $1,153.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The stock has a market capitalization of $823.76 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.30 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping the consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. During the same quarter in the previous year, the firm earned $11.75 earnings per share. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc will post 52.1 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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