Strategy Asset Managers LLC Trims Position in Alphabet Inc. (GOOG)

Strategy Asset Managers LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,051 shares of the information services provider’s stock after selling 151 shares during the period. Strategy Asset Managers LLC’s holdings in Alphabet were worth $2,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Capital Investment Advisory Services LLC grew its position in shares of Alphabet by 0.4% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock valued at $230,000 after buying an additional 1 shares during the last quarter. Foster & Motley Inc. grew its position in shares of Alphabet by 0.8% in the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after buying an additional 2 shares during the last quarter. Gradient Investments LLC grew its position in shares of Alphabet by 0.6% in the 2nd quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock valued at $460,000 after buying an additional 3 shares during the last quarter. Saratoga Research & Investment Management grew its position in shares of Alphabet by 1.2% in the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock valued at $234,000 after buying an additional 3 shares during the last quarter. Finally, Edge Wealth Management LLC grew its position in shares of Alphabet by 0.9% in the 2nd quarter. Edge Wealth Management LLC now owns 340 shares of the information services provider’s stock valued at $309,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 34.28% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Strategy Asset Managers LLC Trims Position in Alphabet Inc. (GOOG)” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another domain, it was stolen and republished in violation of United States and international copyright law. The original version of this story can be accessed at https://sportsperspectives.com/2017/11/19/strategy-asset-managers-llc-trims-position-in-alphabet-inc-goog.html.

Alphabet Inc. (GOOG) opened at $1,019.09 on Friday. The stock has a market capitalization of $708,064.81, a P/E ratio of 34.12 and a beta of 0.95. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $737.02 and a twelve month high of $1,048.39.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. Alphabet’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.06 earnings per share.

A number of equities research analysts have commented on GOOG shares. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price target on the stock. in a research report on Wednesday, August 30th. Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 25th. UBS AG reiterated a “buy” rating and issued a $1,080.00 price target on shares of Alphabet in a research report on Monday, September 11th. Finally, JMP Securities reiterated an “outperform” rating and issued a $1,077.00 price target on shares of Alphabet in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have issued a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,047.52.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $931.44, for a total transaction of $3,725,760.00. Following the completion of the transaction, the chief executive officer now directly owns 1,618 shares of the company’s stock, valued at $1,507,069.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 37 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $940.67, for a total value of $34,804.79. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at $1,682,858.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,394 shares of company stock valued at $37,937,930. 13.92% of the stock is owned by corporate 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)

Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply