Private Asset Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ: GOOG – Get Rating) by 0.5% during the 1st quarter, Holdings Channel reports. The firm owned 11,172 shares of the information services provider’s stock after selling 52 shares during the quarter. Alphabet comprises approximately 4.2% of Private Asset Management Inc.’s investment portfolio, making its stock its 4th largest position. Private Asset Management Inc.’s holdings in Alphabet were worth $ 31,203,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in GOOG. BlackRock Inc. boosted its holdings in shares of Alphabet by 1.1% in the 4th quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock valued at $ 55,545,866,000 after acquiring an additional 205,225 shares during the last quarter. State Street Corp boosted its holdings in shares of Alphabet by 0.6% in the 4th quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $ 30,696,262,000 after acquiring an additional 58,955 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock valued at $ 13,474,847,000 after acquiring an additional 97,666 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 2.4% in the 4th quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider’s stock valued at $ 10,857,740,000 after acquiring an additional 87,144 shares during the last quarter. Finally, Alliancebernstein LP boosted its holdings in shares of Alphabet by 1.6% in the 4th quarter. Alliancebernstein LP now owns 3,082,944 shares of the information services provider’s stock valued at $ 8,920,776,000 after acquiring an additional 48,928 shares during the last quarter. 31.20% of the stock is currently owned by institutional investors.
Shares of NASDAQ GOOG opened at $ 2,157.31 on Friday. The firm has a 50-day simple moving average of $ 2,330.61 and a 200-day simple moving average of $ 2,616.16. The stock has a market capitalization of $ 1.42 trillion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.01 and a beta of 1.13. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $ 2,044.16 and a 52 week high of $ 3,042.00.
Alphabet’s stock is set to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ: GOOG – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $ 24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $ 25.70 by ($ 1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The firm had revenue of $ 56.02 billion for the quarter, compared to analyst estimates of $ 56.17 billion. During the same quarter in the previous year, the business posted $ 26.29 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 111.86 EPS for the current year.
Several research firms have recently commented on GOOG. Canaccord Genuity Group dropped their price target on Alphabet shares from $ 3,500.00 to $ 3,300.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $ 3,450.00 to $ 3,200.00 in a report on Wednesday, April 27th. Raymond James lowered their price target on shares of Alphabet from $ 3,630.00 to $ 3,180.00 in a report on Wednesday, April 27th. Wedbush reissued an “outperform” rating on Alphabet shares in a report on Wednesday, April 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $ 3,290.00 price target on shares of Alphabet in a report on Thursday, April 28th. Twenty-nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $ 3,315.38.
In related news, Director John L. Hennessy sold 25 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $ 2,800.00, for a total transaction of $ 70,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2016 Gp LLC Gv sold 544,249 shares of the stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $ 11.16, for a total transaction of $ 6,073,818.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 551,700 shares of company stock valued at $ 25,637,428. 12.99% of the stock is owned by company insiders.
About Alphabet: (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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