Gamble Jones Investment Counsel Sells 190 Shares of Alphabet Inc. (GOOG)

Gamble Jones Investment Counsel lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,068 shares of the information services provider’s stock after selling 190 shares during the quarter. Alphabet comprises 1.1% of Gamble Jones Investment Counsel’s investment portfolio, making the stock its 18th largest holding. Gamble Jones Investment Counsel’s holdings in Alphabet were worth $10,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. grew its holdings in Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares in the last quarter. Farmers National Bank grew its holdings in Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares in the last quarter. St. Johns Investment Management Company LLC grew its holdings in Alphabet by 1,046.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares in the last quarter. Cribstone Capital Management LLC grew its holdings in Alphabet by 5.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock valued at $167,000 after buying an additional 10 shares in the last quarter. Finally, Baker Boyer National Bank purchased a new position in Alphabet during the 2nd quarter valued at about $200,000. 34.52% of the stock is owned by institutional investors.

GOOG has been the subject of a number of recent analyst reports. MKM Partners reaffirmed a “buy” rating and set a $1,170.00 target price on shares of Alphabet in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $995.83 target price for the company in a report on Monday, June 26th. Societe Generale reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, July 7th. Finally, BidaskClub lowered Alphabet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,034.07.

Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 992.18 on Wednesday. The stock has a 50 day moving average price of $942.88 and a 200-day moving average price of $925.82. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $997.21. The stock has a market capitalization of $687.46 billion, a PE ratio of 35.96 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. During the same period last year, the business posted $8.42 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post $30.61 earnings per share for the current year.

In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $930.46, for a total transaction of $3,721,840.00. Following the transaction, the chief executive officer now directly owns 1,764 shares in the company, valued at approximately $1,641,331.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Shirley M. Tilghman sold 525 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $938.09, for a total value of $492,497.25. Following the transaction, the director now owns 5,517 shares in the company, valued at $5,175,442.53. The disclosure for this sale can be found here. Insiders sold a total of 36,694 shares of company stock worth $34,162,584 over the last quarter. Company insiders own 13.92% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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