Golub Group LLC decreased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 8.9% in the second quarter, Holdings Channel reports. The fund owned 1,816 shares of the information services provider’s stock after selling 178 shares during the period. Golub Group LLC’s holdings in Alphabet were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Braun Bostich & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth $107,000. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet during the 1st quarter worth about $113,000. JJJ Advisors Inc. bought a new position in shares of Alphabet during the 2nd quarter worth about $134,000. Stelac Advisory Services LLC bought a new position in shares of Alphabet during the 1st quarter worth about $145,000. Finally, Well Done LLC bought a new position in shares of Alphabet during the 1st quarter worth about $176,000. 34.16% of the stock is owned by hedge funds and other institutional investors.
NASDAQ GOOG opened at $1,020.08 on Tuesday. The stock has a market capitalization of $745.69 billion, a P/E ratio of 31.83 and a beta of 1.11. Alphabet Inc has a twelve month low of $980.64 and a twelve month high of $1,273.89. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.
Several research firms have recently issued reports on GOOG. Oppenheimer restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 25th. Barclays restated a “buy” rating on shares of Alphabet in a report on Friday. Cowen boosted their price objective on shares of Alphabet from $1,245.00 to $1,350.00 and gave the stock an “outperform” rating in a report on Friday, July 13th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Finally, Wedbush began coverage on shares of Alphabet in a report on Wednesday, October 17th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $1,301.81.
In related news, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $1,113.91, for a total value of $11,139,100.00. Following the sale, the chief executive officer now owns 532 shares of the company’s stock, valued at $592,600.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Amie Thuener O’toole sold 80 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $1,206.20, for a total transaction of $96,496.00. Following the sale, the vice president now directly owns 388 shares in the company, valued at $468,005.60. The disclosure for this sale can be found here. In the last three months, insiders sold 87,646 shares of company stock worth $104,260,256. 13.11% of the stock is currently owned by insiders.
Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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