Sprucegrove Investment Management Ltd. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,611 shares of the company’s stock after selling 1,100 shares during the period. Sprucegrove Investment Management Ltd.’s holdings in Alphabet were worth $9,420,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of GOOG. D. Scott Neal Inc. boosted its stake in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the last quarter. Cacti Asset Management LLC purchased a new stake in Alphabet during the second quarter worth approximately $159,000. Stewart & Patten Co. LLC boosted its stake in Alphabet by 1.3% in the second quarter. Stewart & Patten Co. LLC now owns 323 shares of the company’s stock worth $224,000 after buying an additional 4 shares during the last quarter. Retirement Planning Group boosted its stake in 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 last quarter. Finally, Clarkston Capital Partners LLC boosted its stake in Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock worth $229,000 after buying an additional 43 shares during the last quarter. 34.39% of the stock is owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOG) traded down 0.23% on Friday, reaching $775.08. 933,158 shares of the company’s stock traded hands. Alphabet Inc. has a 52 week low of $639.01 and a 52 week high of $789.87. The firm has a market capitalization of $532.69 billion, a P/E ratio of 30.03 and a beta of 1.03. The stock has a 50-day moving average of $773.14 and a 200 day moving average of $740.29.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Thomson Reuters’ 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 company’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.99 EPS. On average, equities analysts expect that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
A number of research firms recently commented on GOOG. Sanford C. Bernstein set a $950.00 target price on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. JMP Securities set a $928.00 target price on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. Robert W. Baird set a $900.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $940.00 price target (up previously from $920.00) on shares of Alphabet in a report on Friday, July 29th. Finally, Atlantic Securities set a $910.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus price target of $926.55.
In other news, Director Ann Mather sold 43 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $773.49, for a total transaction of $33,260.07. Following the transaction, the director now directly owns 1,656 shares in the company, valued at approximately $1,280,899.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the transaction, the chief executive officer now owns 3,297 shares in the company, valued at $2,437,175.37. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
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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