Laurel Grove Capital LLC cut its stake in Alphabet Inc (NASDAQ:GOOG) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,262 shares of the information services provider’s stock after selling 223 shares during the quarter. Alphabet comprises about 3.8% of Laurel Grove Capital LLC’s holdings, making the stock its 5th biggest holding. Laurel Grove Capital LLC’s holdings in Alphabet were worth $7,474,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in Alphabet by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 694,264 shares of the information services provider’s stock valued at $716,346,000 after acquiring an additional 13,346 shares during the period. Allianz Asset Management GmbH increased its position in Alphabet by 3.9% during the first quarter. Allianz Asset Management GmbH now owns 371,157 shares of the information services provider’s stock worth $382,956,000 after buying an additional 13,865 shares during the period. Southeast Asset Advisors Inc. increased its holdings in shares of Alphabet by 0.3% in the first quarter. Southeast Asset Advisors Inc. now owns 35,065 shares of the information services provider’s stock valued at $36,180,000 after purchasing an additional 96 shares during the period. Ostrum Asset Management boosted its stake in shares of Alphabet by 60.3% in the first quarter. Ostrum Asset Management now owns 11,855 shares of the information services provider’s stock valued at $12,232,000 after buying an additional 4,460 shares in the last quarter. Finally, NS Partners Ltd boosted its stake in shares of Alphabet by 5.4% in the first quarter. NS Partners Ltd now owns 18,206 shares of the information services provider’s stock valued at $18,785,000 after buying an additional 940 shares in the last quarter. Institutional investors and hedge funds own 36.95% of the company’s stock.
In other news, VP Amie Thuener O’toole sold 80 shares of Alphabet stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $1,190.96, for a total value of $95,276.80. Following the completion of the transaction, the vice president now owns 388 shares in the company, valued at $462,092.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director L John Doerr sold 11,908 shares of Alphabet stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $1,049.76, for a total transaction of $12,500,542.08. Following the completion of the transaction, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,658,413.60. The disclosure for this sale can be found here. Insiders have sold 89,435 shares of company stock worth $96,605,436 over the last ninety days. Company insiders own 13.11% of the company’s stock.
GOOG stock traded down $6.80 during trading on Friday, reaching $1,037.08. 1,399,218 shares of the stock were exchanged, compared to its average volume of 1,995,061. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,273.89. The company has a market cap of $721.68 billion, a PE ratio of 23.34 and a beta of 1.15. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion for the quarter.
A number of analysts have commented on GOOG shares. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, September 26th. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a report on Monday, September 24th. Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, September 14th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Friday, September 28th. Finally, Macquarie reissued a “buy” rating on shares of Alphabet in a report on Thursday, September 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have issued a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,301.81.
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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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