Howard Capital Management Has $5.95 Million Stake in Alphabet Inc. (GOOG)

Howard Capital Management cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,551 shares of the information services provider’s stock after selling 337 shares during the period. Howard Capital Management’s holdings in Alphabet were worth $5,953,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Meyer Handelman Co. raised its stake in Alphabet by 11.6% in the second quarter. Meyer Handelman Co. now owns 5,773 shares of the information services provider’s stock valued at $5,246,000 after buying an additional 600 shares during the period. Gulf International Bank UK Ltd raised its stake in Alphabet by 1.0% in the second quarter. Gulf International Bank UK Ltd now owns 97,941 shares of the information services provider’s stock valued at $89,001,000 after buying an additional 936 shares during the period. Oakbrook Investments LLC raised its stake in Alphabet by 1.1% in the second quarter. Oakbrook Investments LLC now owns 20,989 shares of the information services provider’s stock valued at $19,073,000 after buying an additional 220 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Alphabet by 3.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 14,464 shares of the information services provider’s stock valued at $13,143,000 after buying an additional 425 shares during the period. Finally, Whittier Trust Co. raised its stake in Alphabet by 1.5% in the second quarter. Whittier Trust Co. now owns 38,715 shares of the information services provider’s stock valued at $35,181,000 after buying an additional 581 shares during the period. Hedge funds and other institutional investors own 34.57% of the company’s stock.

Shares of Alphabet Inc. (GOOG) traded down 0.21% during trading on Monday, hitting $908.76. 470,130 shares of the stock were exchanged. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The stock’s 50 day moving average price is $933.52 and its 200-day moving average price is $892.51. The company has a market cap of $629.66 billion, a price-to-earnings ratio of 32.93 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. During the same period in the prior year, the firm earned $8.42 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post $30.60 EPS for the current year.

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Several research firms have recently commented on GOOG. BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday. Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,034.88 price objective for the company. in a research note on Wednesday, August 16th. SunTrust Banks, Inc. began coverage on Alphabet in a research note on Wednesday, August 16th. They issued a “buy” rating and a $1,100.00 price objective for the company. Cowen and Company restated an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research note on Thursday, August 10th. Finally, MKM Partners restated a “buy” rating and issued a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and forty have assigned a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,030.56.

In related news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the sale, the chief executive officer now directly owns 2,058 shares in the company, valued at $2,019,824.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,169 shares of company stock worth $44,206,482. 13.92% of the stock is owned by insiders.

Alphabet Company Profile

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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