ClariVest Asset Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 491,742 shares of the information services provider’s stock after selling 16,409 shares during the period. Alphabet accounts for about 2.3% of ClariVest Asset Management LLC’s portfolio, making the stock its 5th largest position. ClariVest Asset Management LLC’s holdings in Alphabet were worth $51,008,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Cumberland Partners Ltd lifted its position in shares of Alphabet by 15.3% during the 1st quarter. Cumberland Partners Ltd now owns 69,559 shares of the information services provider’s stock valued at $7,215,000 after acquiring an additional 9,247 shares during the period. Cooke & Bieler LP raised its holdings in Alphabet by 123.2% during the first quarter. Cooke & Bieler LP now owns 1,400,850 shares of the information services provider’s stock worth $145,310,000 after buying an additional 773,126 shares during the last quarter. Wrapmanager Inc. raised its holdings in Alphabet by 3.3% during the first quarter. Wrapmanager Inc. now owns 7,963 shares of the information services provider’s stock worth $826,000 after buying an additional 254 shares during the last quarter. NewEdge Wealth LLC raised its holdings in Alphabet by 1.4% during the first quarter. NewEdge Wealth LLC now owns 298,871 shares of the information services provider’s stock worth $31,002,000 after buying an additional 4,044 shares during the last quarter. Finally, Shelton Wealth Management LLC raised its holdings in Alphabet by 3.8% during the first quarter. Shelton Wealth Management LLC now owns 5,153 shares of the information services provider’s stock worth $535,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $125.00, for a total transaction of $100,000.00. Following the transaction, the director now directly owns 5,940 shares of the company’s stock, valued at approximately $742,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the sale, the director now owns 5,340 shares in the company, valued at approximately $700,287.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $125.00, for a total transaction of $100,000.00. Following the sale, the director now owns 5,940 shares in the company, valued at approximately $742,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 340,790 shares of company stock valued at $11,250,754. 0.88% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on GOOGL
Alphabet Trading Down 0.8 %
Shares of GOOGL opened at $128.70 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $133.74. The firm has a 50 day moving average price of $124.23 and a 200-day moving average price of $111.95. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.51 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 5.67 earnings per share for the current year.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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