Westpac Banking Corp Sells 143,205 Shares of Alphabet Inc (GOOG)

Westpac Banking Corp cut its position in shares of Alphabet Inc (NASDAQ:GOOG) by 86.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,728 shares of the information services provider’s stock after selling 143,205 shares during the quarter. Westpac Banking Corp’s holdings in Alphabet were worth $19,745,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Investment Advisory Services LLC grew its position in Alphabet by 0.4% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after acquiring an additional 1 shares during the last quarter. Capital Advantage Inc. grew its position in Alphabet by 0.4% during the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after acquiring an additional 1 shares during the last quarter. Foster & Motley Inc. grew its position in Alphabet by 0.8% during the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after acquiring an additional 2 shares during the last quarter. Gradient Investments LLC grew its position in Alphabet by 0.6% during the 2nd quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock worth $460,000 after acquiring an additional 3 shares during the last quarter. Finally, Saratoga Research & Investment Management grew its position in Alphabet by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock worth $234,000 after acquiring an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 34.74% of the company’s stock.

Several equities analysts recently issued reports on GOOG shares. Vetr lowered 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. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 25th. UBS restated a “buy” rating and set a $1,080.00 price target on shares of Alphabet in a research report on Monday, September 11th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Alphabet in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $1,047.96.

In other Alphabet news, VP James Grier Campbell sold 184 shares of Alphabet stock in a transaction on Monday, December 4th. The stock was sold at an average price of $1,012.66, for a total transaction of $186,329.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director L John Doerr sold 12,236 shares of Alphabet stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the transaction, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,560,171.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,396 shares of company stock valued at $37,957,301. 13.92% of the stock is currently owned by company insiders.

Alphabet Inc (NASDAQ:GOOG) opened at $998.68 on Tuesday. The company has a market capitalization of $701,867.13, a P/E ratio of 33.82 and a beta of 0.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet Inc has a one year low of $752.90 and a one year high of $1,062.38.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Zacks’ consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter last year, the business posted $9.06 EPS.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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