Personal Capital Advisors Corp lowered its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,999 shares of the information services provider’s stock after selling 835 shares during the period. Personal Capital Advisors Corp’s holdings in Alphabet were worth $41,277,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Smart Portfolios LLC bought a new stake in Alphabet during the 1st quarter worth $103,000. Braun Bostich & Associates Inc. bought a new stake in Alphabet during the 1st quarter worth $107,000. Litman Gregory Asset Management LLC bought a new stake in Alphabet during the 1st quarter worth $113,000. JJJ Advisors Inc. bought a new stake in Alphabet during the 2nd quarter worth $134,000. Finally, Stelac Advisory Services LLC bought a new stake in Alphabet during the 1st quarter worth $145,000. 34.20% of the stock is owned by institutional investors.
In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $1,113.42, for a total value of $11,134,200.00. Following the sale, the chief executive officer now owns 899 shares in the company, valued at approximately $1,000,964.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $1,177.36, for a total value of $6,699,178.40. Following the completion of the sale, the senior vice president now owns 41,234 shares in the company, valued at approximately $48,547,262.24. The disclosure for this sale can be found here. Insiders sold a total of 88,362 shares of company stock worth $105,424,908 in the last quarter. Corporate insiders own 13.11% of the company’s stock.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating analysts’ consensus estimates of $9.66 by $2.09. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. The firm had revenue of $32.66 billion for the quarter, compared to analyst estimates of $32.13 billion. During the same quarter in the previous year, the company posted $5.01 EPS. The business’s revenue was up 25.6% on a year-over-year basis.
A number of equities research analysts recently weighed in on GOOG shares. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 26th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Tuesday, August 7th. Goldman Sachs Group restated a “$1,186.96” rating on shares of Alphabet in a research report on Thursday, July 19th. Piper Jaffray Companies restated a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Macquarie restated a “$1,205.50” rating on shares of Alphabet in a research report on Monday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,289.09.
Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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