Alphabet Inc. (GOOG) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 316 shares of the information services provider’s stock after selling 13 shares during the period. Meritage Portfolio Management’s holdings in Alphabet were worth $262,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Beaumont Financial Partners LLC raised its stake in Alphabet by 28.5% in the fourth quarter. Beaumont Financial Partners LLC now owns 460 shares of the information services provider’s stock valued at $355,000 after buying an additional 102 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Alphabet by 4.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,925 shares of the information services provider’s stock valued at $5,345,000 after buying an additional 310 shares during the last quarter. Robertson Stephens Advisors LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $944,000. Comerica Bank raised its stake in Alphabet by 1.5% in the fourth quarter. Comerica Bank now owns 95,999 shares of the information services provider’s stock valued at $77,555,000 after buying an additional 1,435 shares during the last quarter. Finally, Clarius Group LLC raised its stake in Alphabet by 332.2% in the fourth quarter. Clarius Group LLC now owns 11,696 shares of the information services provider’s stock valued at $2,088,000 after buying an additional 8,990 shares during the last quarter. Institutional investors own 35.04% of the company’s stock.

Alphabet Inc. (GOOG) opened at 927.33 on Wednesday. Alphabet Inc. has a 52-week low of $663.28 and a 52-week high of $988.25. The company has a market cap of $641.48 billion, a price-to-earnings ratio of 31.34 and a beta of 0.94. The firm’s 50-day moving average is $948.74 and its 200 day moving average is $852.55. Alphabet also was the recipient of some unusual options trading activity on Tuesday. Investors acquired 2,914 put options on the stock. This is an increase of approximately 173% compared to the typical daily volume of 1,066 put options.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the consensus estimate of $7.38 by $0.35. The firm had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $24.18 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.50 EPS. On average, equities research analysts predict that Alphabet Inc. will post $33.91 EPS for the current fiscal year.

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Several equities research analysts recently commented on GOOG shares. Nomura reissued a “buy” rating and set a $985.00 price objective on shares of Alphabet in a research note on Monday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $1,040.00 price objective on shares of Alphabet in a research note on Monday, March 13th. Barclays PLC reissued an “overweight” rating on shares of Alphabet in a research note on Monday, April 17th. Wedbush reissued an “underperform” rating and set a $725.00 price objective (up previously from $700.00) on shares of Alphabet in a research note on Saturday, April 29th. Finally, Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $988.37.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $837.31, for a total value of $3,349,240.00. Following the transaction, the chief executive officer now owns 2,351 shares of the company’s stock, valued at $1,968,515.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,085 shares of company stock worth $42,307,001. Corporate insiders own 13.92% of the company’s stock.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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