Adams Diversified Equity Fund Inc. trimmed its position in Alphabet Inc (NASDAQ:GOOG) by 10.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,197 shares of the information services provider’s stock after selling 2,900 shares during the period. Alphabet accounts for approximately 1.5% of Adams Diversified Equity Fund Inc.’s investment portfolio, making the stock its 22nd biggest holding. Adams Diversified Equity Fund Inc.’s holdings in Alphabet were worth $30,072,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Congress Park Capital LLC boosted its holdings in Alphabet by 2.8% in the third quarter. Congress Park Capital LLC now owns 1,925 shares of the information services provider’s stock valued at $2,297,000 after purchasing an additional 52 shares during the last quarter. GWM Advisors LLC boosted its holdings in Alphabet by 36.7% in the third quarter. GWM Advisors LLC now owns 2,095 shares of the information services provider’s stock valued at $2,500,000 after purchasing an additional 563 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in Alphabet by 3.0% in the third quarter. Checchi Capital Advisers LLC now owns 3,761 shares of the information services provider’s stock valued at $4,489,000 after purchasing an additional 109 shares during the last quarter. Mendel Money Management purchased a new stake in Alphabet in the third quarter valued at $3,557,000. Finally, Winthrop Advisory Group LLC boosted its holdings in Alphabet by 41.1% in the third quarter. Winthrop Advisory Group LLC now owns 930 shares of the information services provider’s stock valued at $1,110,000 after purchasing an additional 271 shares during the last quarter. 36.95% of the stock is currently owned by hedge funds and other institutional investors.
GOOG has been the topic of several recent research reports. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, September 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, September 24th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, September 14th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, September 28th. Finally, Macquarie reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have issued a buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,301.81.
In related news, VP Amie Thuener O’toole sold 80 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $1,073.72, for a total value of $85,897.60. Following the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $416,603.36. The sale 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 firm’s stock in a transaction dated Friday, October 12th. The shares were sold at an average price of $1,115.36, for a total transaction of $6,346,398.40. Following the completion of the transaction, the senior vice president now directly owns 42,558 shares in the company, valued at $47,467,490.88. The disclosure for this sale can be found here. Insiders sold a total of 79,330 shares of company stock worth $84,479,762 over the last ninety days. 13.11% of the stock is currently owned by corporate insiders.
GOOG stock opened at $1,035.61 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,273.89. The stock has a market cap of $721.68 billion, a PE ratio of 23.34 and a beta of 1.15.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The business had revenue of $27.16 billion for the quarter.
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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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