Victory Capital Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,867 shares of the company’s stock after selling 21,803 shares during the period. Victory Capital Management Inc.’s holdings in Alphabet were worth $93,342,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. raised its stake in Alphabet by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,693,848 shares of the company’s stock worth $5,731,532,000 after buying an additional 37,063 shares during the period. Geode Capital Management LLC raised its stake in Alphabet by 4.7% in the first quarter. Geode Capital Management LLC now owns 2,608,164 shares of the company’s stock worth $1,939,281,000 after buying an additional 117,556 shares during the period. Ameriprise Financial Inc. raised its stake in Alphabet by 11.2% in the second quarter. Ameriprise Financial Inc. now owns 1,768,501 shares of the company’s stock worth $1,223,977,000 after buying an additional 178,739 shares during the period. UBS Asset Management Americas Inc. raised its stake in Alphabet by 1.8% in the first quarter. UBS Asset Management Americas Inc. now owns 1,365,990 shares of the company’s stock worth $1,017,595,000 after buying an additional 24,169 shares during the period. Finally, Bank of Montreal Can bought a new stake in Alphabet during the second quarter worth $927,982,000. 34.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.15% during trading on Thursday, reaching $777.60. The company’s stock had a trading volume of 342,886 shares. The stock has a 50 day moving average of $773.30 and a 200-day moving average of $739.79. Alphabet Inc. has a 1-year low of $625.56 and a 1-year high of $789.87. The company has a market capitalization of $534.42 billion, a PE ratio of 30.13 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.03 by $0.39. The company earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.99 earnings per share. On average, analysts expect that Alphabet Inc. will post $34.30 earnings per share for the current year.
A number of analysts recently commented on GOOG shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, July 29th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $1,025.00 price target (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. SunTrust Banks Inc. reaffirmed a “buy” rating and issued a $900.00 price target (up previously from $850.00) on shares of Alphabet in a research note on Sunday, July 31st. Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 price target for the company. in a research note on Tuesday, June 21st. Finally, Credit Agricole SA reaffirmed a “buy” rating and issued a $990.00 price target (up previously from $970.00) on shares of Alphabet in a research note on Sunday, July 31st. One equities research 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 issued a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average price target of $926.55.
In related news, Director Ann Mather sold 43 shares of the business’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 completion of the transaction, the director now directly owns 1,656 shares of the company’s stock, valued at approximately $1,280,899.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sergey Brin sold 66,664 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $785.10, for a total value of $52,337,906.40. Following the transaction, the insider now directly owns 28,200 shares of the company’s stock, valued at $22,139,820. The disclosure for this sale can be found here. 13.92% of the stock is owned by insiders.
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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