Private Asset Management Inc. Acquires 78 Shares of Alphabet Inc (GOOG)

Private Asset Management Inc. increased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,671 shares of the information services provider’s stock after acquiring an additional 78 shares during the quarter. Alphabet comprises 1.4% of Private Asset Management Inc.’s investment portfolio, making the stock its 27th biggest position. Private Asset Management Inc.’s holdings in Alphabet were worth $8,671,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Janus Henderson Group PLC boosted its holdings in Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after purchasing an additional 2,831,099 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in Alphabet by 87,001.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after purchasing an additional 1,991,465 shares during the last quarter. Koch Industries Inc. boosted its holdings in Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after purchasing an additional 1,161,184 shares during the last quarter. BlackRock Inc. boosted its holdings in Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares during the last quarter. Hedge funds and other institutional investors own 34.74% of the company’s stock.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $958.40, for a total value of $3,833,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 38 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total transaction of $36,451.88. Following the completion of the sale, the director now directly owns 1,797 shares in the company, valued at $1,723,790.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,900 shares of company stock worth $36,837,100. 13.92% of the stock is owned by insiders.

Shares of Alphabet Inc (GOOG) opened at $1,064.19 on Monday. Alphabet Inc has a 52 week low of $770.41 and a 52 week high of $1,067.62. The firm has a market cap of $739,400.25, a P/E ratio of 35.63 and a beta of 0.93. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. During the same period in the prior year, the firm earned $9.06 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis.

GOOG has been the topic of several recent analyst reports. SunTrust Banks reiterated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,031.46 target price on the stock. in a report on Tuesday, August 22nd. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Monness Crespi & Hardt reiterated a “buy” rating on shares of Alphabet in a report on Saturday, August 26th. Finally, UBS reiterated a “buy” rating and issued a $1,080.00 target price on shares of Alphabet in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have assigned a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,047.45.

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Alphabet Profile

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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