North American Management Corp Sells 20 Shares of Alphabet Inc. (NASDAQ:GOOG)


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North American Management Corp cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the first quarter, Holdings Channel reports. The firm owned 810 shares of the information services provider’s stock after selling 20 shares during the quarter. North American Management Corp’s holdings in Alphabet were worth $1,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $2,118,088,000. Cibc World Markets Corp raised its stake in Alphabet by 537.3% during the fourth quarter. Cibc World Markets Corp now owns 725,784 shares of the information services provider’s stock valued at $1,271,486,000 after purchasing an additional 611,904 shares in the last quarter. Egerton Capital UK LLP lifted its position in Alphabet by 85.6% during the fourth quarter. Egerton Capital UK LLP now owns 675,668 shares of the information services provider’s stock valued at $1,183,689,000 after purchasing an additional 311,706 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Alphabet by 11.6% in the 4th quarter. Sanders Capital LLC now owns 1,526,442 shares of the information services provider’s stock worth $2,866,248,000 after buying an additional 158,383 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Alphabet by 6.5% in the 4th quarter. Morgan Stanley now owns 2,509,483 shares of the information services provider’s stock worth $4,396,316,000 after buying an additional 152,485 shares during the last quarter. 31.94% of the stock is owned by institutional investors and hedge funds.

Alphabet stock traded up $20.44 during trading hours on Friday, hitting $2,285.88. The company had a trading volume of 1,044,365 shares, compared to its average volume of 1,585,318. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. The firm has a market cap of $1.54 trillion, a P/E ratio of 44.17, a P/E/G ratio of 1.66 and a beta of 0.98. The company has a 50-day moving average price of $2,083.69 and a two-hundred day moving average price of $1,828.11. Alphabet Inc. has a 1 year low of $1,187.60 and a 1 year high of $2,289.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $15.91 by $6.39. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm had revenue of $56.90 billion during the quarter, compared to the consensus estimate of $52.86 billion. During the same quarter in the previous year, the firm posted $15.35 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 52.19 EPS for the current year.

In other Alphabet news, SVP John Kent Walker sold 2,570 shares of the stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $2,037.34, for a total transaction of $5,235,963.80. Following the transaction, the senior vice president now directly owns 26,707 shares in the company, valued at approximately $54,411,239.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Philipp Schindler sold 1,385 shares of the firm’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $1,852.09, for a total transaction of $2,565,144.65. Following the transaction, the senior vice president now directly owns 18,712 shares in the company, valued at approximately $34,656,308.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,104 shares of company stock valued at $35,725,438. 12.99% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on GOOG. Morgan Stanley increased their price target on shares of Alphabet from $2,050.00 to $2,200.00 and gave the company an “overweight” rating in a report on Wednesday, February 3rd. Credit Suisse Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $2,493.00 target price on the stock in a research report on Wednesday. Jefferies Financial Group increased their price target on Alphabet from $2,150.00 to $2,400.00 in a report on Wednesday, February 3rd. Finally, Wolfe Research initiated coverage on shares of Alphabet in a research note on Wednesday, March 31st. They set an “outperform” rating and a $2,450.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $2,244.11.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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