Goelzer Investment Management Inc. Sells 169 Shares of Alphabet Inc (GOOG)

Goelzer Investment Management Inc. lessened its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,540 shares of the information services provider’s stock after selling 169 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Alphabet were worth $5,418,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Garner Asset Management Corp increased its stake in Alphabet by 27.8% in the third quarter. Garner Asset Management Corp now owns 993 shares of the information services provider’s stock valued at $1,185,000 after purchasing an additional 216 shares during the period. Rice Partnership LLC increased its stake in Alphabet by 21.7% in the second quarter. Rice Partnership LLC now owns 544 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 97 shares during the period. Jennison Associates LLC increased its stake in Alphabet by 8.0% in the third quarter. Jennison Associates LLC now owns 1,794,787 shares of the information services provider’s stock valued at $2,142,024,000 after purchasing an additional 132,781 shares during the period. Schmidt P J Investment Management Inc. increased its stake in Alphabet by 1.5% in the third quarter. Schmidt P J Investment Management Inc. now owns 5,166 shares of the information services provider’s stock valued at $6,165,000 after purchasing an additional 78 shares during the period. Finally, C WorldWide Group Holding A S increased its stake in Alphabet by 0.3% in the third quarter. C WorldWide Group Holding A S now owns 485,671 shares of the information services provider’s stock valued at $579,633,000 after purchasing an additional 1,466 shares during the period. 42.14% of the stock is owned by institutional investors.

In other Alphabet news, Director Ann Mather sold 194 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $1,120.68, for a total value of $217,411.92. Following the sale, the director now owns 1,797 shares of the company’s stock, valued at $2,013,861.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L John Doerr sold 11,908 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $1,049.76, for a total transaction of $12,500,542.08. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at approximately $3,658,413.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,805 shares of company stock worth $77,449,341. 13.11% of the stock is owned by insiders.

A number of research analysts have commented on GOOG shares. Stifel Nicolaus restated a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. UBS Group restated a “buy” rating on shares of Alphabet in a research note on Monday, January 14th. Canaccord Genuity dropped their price objective on shares of Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating on the stock in a research note on Friday, October 26th. Deutsche Bank restated a “buy” rating and issued a $1,375.00 price objective (up from $1,350.00) on shares of Alphabet in a research note on Tuesday, October 23rd. Finally, Macquarie reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-nine have given a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,327.66.

Shares of Alphabet stock opened at $1,095.06 on Monday. The stock has a market cap of $762.03 billion, a PE ratio of 23.05 and a beta of 1.06. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,273.89. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, topping analysts’ consensus estimates of $10.86 by $1.91. The firm had revenue of $39.28 billion for the quarter, compared to the consensus estimate of $38.91 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.70 earnings per share.

TRADEMARK VIOLATION WARNING: “Goelzer Investment Management Inc. Sells 169 Shares of Alphabet Inc (GOOG)” was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://sportsperspectives.com/2019/02/11/goelzer-investment-management-inc-sells-169-shares-of-alphabet-inc-goog.html.

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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

Leave a Reply