Wagner Bowman Management Corp cut its position in Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 578 shares of the company’s stock after selling 12 shares during the period. Wagner Bowman Management Corp’s holdings in Alphabet were worth $400,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. New Century Investment Management Inc. bought a new position in Alphabet during the first quarter worth approximately $2,354,000. Wade G W & Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $1,226,000. Glenmede Trust Co. NA boosted its position in shares of Alphabet by 170.8% in the first quarter. Glenmede Trust Co. NA now owns 95,364 shares of the company’s stock valued at $71,041,000 after buying an additional 60,146 shares during the last quarter. Investment Centers of America Inc. boosted its position in shares of Alphabet by 141.7% in the first quarter. Investment Centers of America Inc. now owns 1,368 shares of the company’s stock valued at $1,005,000 after buying an additional 802 shares during the last quarter. Finally, Sanders Morris Harris Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $1,054,000. Hedge funds and other institutional investors own 34.39% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% during trading on Friday, hitting $778.53. The stock had a trading volume of 852,487 shares. The company has a market cap of $535.06 billion, a P/E ratio of 30.17 and a beta of 1.03. Alphabet Inc. has a one year low of $641.73 and a one year high of $792.28. The stock’s 50-day moving average price is $774.66 and its 200-day moving average price is $741.88.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same period last year, the company earned $6.99 EPS. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
Several brokerages have issued reports on GOOG. Credit Agricole SA reiterated a “buy” rating on shares of Alphabet in a report on Friday, September 23rd. Moffett Nathanson reiterated a “buy” rating and set a $925.00 target price on shares of Alphabet in a report on Friday, September 23rd. Deutsche Bank AG reiterated a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a report on Wednesday. Wedbush cut shares of Alphabet from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $700.00 to $800.00 in a report on Tuesday, September 27th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $822.37 target price on the stock in a report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $926.55.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $781.81, for a total value of $3,127,240.00. Following the transaction, the chief executive officer now directly owns 3,231 shares in the company, valued at approximately $2,526,028.11. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 115 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $769.38, for a total value of $88,478.70. Following the completion of the transaction, the director now owns 1,656 shares in the company, valued at $1,274,093.28. The disclosure for this sale can be found here. 13.92% of the stock is owned by company 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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