BNP Paribas Arbitrage SA lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 673,339 shares of the company’s stock after selling 6,929 shares during the period. Alphabet makes up 2.1% of BNP Paribas Arbitrage SA’s holdings, making the stock its 6th largest position. BNP Paribas Arbitrage SA’s holdings in Alphabet were worth $466,018,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GOOG. Retirement Planning Group boosted its stake in shares of Alphabet by 1.5% in the first quarter. Retirement Planning Group now owns 330 shares of the company’s stock worth $246,000 after buying an additional 5 shares during the period. Shufro Rose & Co. LLC boosted its stake in shares of Alphabet by 16.4% in the first quarter. Shufro Rose & Co. LLC now owns 355 shares of the company’s stock worth $264,000 after buying an additional 50 shares during the period. Iberiabank Corp acquired a new stake in shares of Alphabet during the first quarter worth $279,000. Hyman Charles D acquired a new stake in shares of Alphabet during the first quarter worth $289,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Alphabet during the first quarter worth $298,000. 34.39% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.29% during trading on Friday, hitting $777.29. 1,585,333 shares of the stock were exchanged. Alphabet Inc. has a 52 week low of $625.56 and a 52 week high of $789.87. The firm has a 50-day moving average of $773.79 and a 200-day moving average of $738.90. The stock has a market capitalization of $534.21 billion, a price-to-earnings ratio of 30.12 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Zacks’ consensus estimate of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.99 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post $34.30 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $900.00 price target on shares of Alphabet in a research report on Saturday, June 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $925.00 price objective (up previously from $888.00) on shares of Alphabet in a report on Friday, July 29th. Longbow Research began coverage on shares of Alphabet in a report on Wednesday, July 6th. They issued a “buy” rating on the stock. Macquarie reiterated an “outperform” rating and issued a $975.00 price objective on shares of Alphabet in a report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $925.99.
In other Alphabet news, insider Sergey Brin sold 33,332 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $796.59, for a total transaction of $26,551,937.88. Following the sale, the insider now directly owns 16,666 shares of the company’s stock, valued at $13,275,968.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 43 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $773.49, for a total transaction of $33,260.07. Following the sale, the director now directly owns 1,656 shares in the company, valued at $1,280,899.44. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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