Saratoga Research & Investment Management lessened its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,295 shares of the information services provider’s stock after selling 2,684 shares during the period. Saratoga Research & Investment Management’s holdings in Alphabet were worth $1,850,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Fifth Third Wealth Advisors LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $314,000. Jmac Enterprises LLC raised its stake in shares of Alphabet by 6.0% during the 1st quarter. Jmac Enterprises LLC now owns 17,707 shares of the information services provider’s stock worth $1,842,000 after buying an additional 1,005 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Alphabet by 4.7% during the 1st quarter. Pinnacle Associates Ltd. now owns 392,090 shares of the information services provider’s stock worth $40,777,000 after buying an additional 17,471 shares during the period. Pacific Sun Financial Corp acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $237,000. Finally, Meyer Handelman Co. raised its stake in shares of Alphabet by 7.4% during the 1st quarter. Meyer Handelman Co. now owns 264,040 shares of the information services provider’s stock worth $27,460,000 after buying an additional 18,210 shares during the period. Hedge funds and other institutional investors own 27.13% of the company’s stock.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $132.09, for a total transaction of $55,477.80. Following the completion of the transaction, the chief accounting officer now directly owns 25,988 shares in the company, valued at approximately $3,432,754.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $132.09, for a total transaction of $55,477.80. Following the completion of the transaction, the chief accounting officer now directly owns 25,988 shares in the company, valued at approximately $3,432,754.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 42,900 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total value of $5,856,279.00. Following the transaction, the insider now owns 10,383 shares of the company’s stock, valued at $1,417,383.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,091 shares of company stock worth $13,527,476. 12.99% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on GOOG
Alphabet Stock Up 2.0 %
Shares of GOOG opened at $138.73 on Monday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $139.93. The company has a market capitalization of $1.75 trillion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. The stock has a fifty day simple moving average of $133.39 and a two-hundred day simple moving average of $122.45. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the company earned $1.21 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 5.68 EPS for the current year.
Alphabet Profile
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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