Aviance Capital Partners LLC cut its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 689 shares of the information services provider’s stock after selling 29 shares during the period. Aviance Capital Partners LLC’s holdings in Alphabet were worth $745,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of GOOG. 1 North Wealth Services LLC bought a new stake in Alphabet during the 4th quarter worth approximately $34,000. HMS Capital Management LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $38,000. TD Capital Management LLC increased its holdings in shares of Alphabet by 38.5% in the 4th quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after buying an additional 10 shares during the last quarter. Truehand Inc bought a new position in shares of Alphabet in the 4th quarter worth $38,000. Finally, Thor Advisors LLC bought a new position in shares of Alphabet in the 1st quarter worth $56,000. 33.97% of the stock is owned by institutional investors.
Shares of Alphabet stock traded up $3.95 during trading on Friday, hitting $1,238.20. The company’s stock had a trading volume of 225,616 shares, compared to its average volume of 1,138,254. The company has a market capitalization of $836.24 billion, a PE ratio of 26.06, a P/E/G ratio of 1.39 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. The company has a fifty day simple moving average of $1,189.93 and a two-hundred day simple moving average of $1,163.30.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Alphabet’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the business earned $11.75 EPS. As a group, analysts predict that Alphabet Inc will post 51.48 EPS for the current year.
GOOG has been the topic of a number of research analyst reports. BidaskClub lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $1,360.00 price objective (up previously from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Deutsche Bank upped their price objective on shares of Alphabet from $1,400.00 to $1,475.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $1,378.93.
In other news, SVP David C. Drummond sold 1,600 shares of Alphabet stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total value of $1,944,624.00. Following the completion of the sale, the senior vice president now directly owns 44,482 shares in the company, valued at $54,062,977.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amie Thuener O’toole sold 69 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $1,100.52, for a total transaction of $75,935.88. Following the completion of the sale, the vice president now owns 388 shares of the company’s stock, valued at $427,001.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,744 shares of company stock valued at $4,480,345. 12.99% of the stock is owned by company insiders.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
Further Reading: Return on Investment (ROI)
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