Acadian Asset Management LLC Sells 10,741 Shares of Alphabet Inc Class C (GOOG)

Acadian Asset Management LLC lessened its holdings in Alphabet Inc Class C (NASDAQ:GOOG) by 8.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,060 shares of the information services provider’s stock after selling 10,741 shares during the quarter. Acadian Asset Management LLC’s holdings in Alphabet Inc Class C were worth $138,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Smart Portfolios LLC purchased a new stake in shares of Alphabet Inc Class C during the first quarter valued at approximately $103,000. Braun Bostich & Associates Inc. purchased a new stake in shares of Alphabet Inc Class C during the first quarter valued at approximately $107,000. Litman Gregory Asset Management LLC purchased a new stake in shares of Alphabet Inc Class C during the first quarter valued at approximately $113,000. WealthShield LLC purchased a new stake in shares of Alphabet Inc Class C during the fourth quarter valued at approximately $144,000. Finally, Earnest Partners LLC purchased a new stake in shares of Alphabet Inc Class C during the fourth quarter valued at approximately $148,000. Institutional investors and hedge funds own 34.31% of the company’s stock.

A number of equities research analysts have recently commented on GOOG shares. BidaskClub upgraded shares of Alphabet Inc Class C from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet Inc Class C in a report on Tuesday, August 7th. Goldman Sachs Group reiterated a “$1,186.96” rating on shares of Alphabet Inc Class C in a report on Thursday, July 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $1,400.00 price target on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. Finally, Macquarie reiterated a “$1,205.50” rating on shares of Alphabet Inc Class C in a report on Monday, July 23rd. Three investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,245.96.

In other Alphabet Inc Class C news, CAO Amie Thuener O’toole sold 80 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total value of $95,504.00. Following the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at $463,194.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $1,192.12, for a total transaction of $11,921,200.00. Following the completion of the transaction, the chief executive officer now owns 871 shares in the company, valued at $1,038,336.52. The disclosure for this sale can be found here. Insiders sold 88,362 shares of company stock worth $105,376,354 over the last quarter. Insiders own 13.11% of the company’s stock.

GOOG opened at $1,164.83 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. Alphabet Inc Class C has a 1-year low of $909.70 and a 1-year high of $1,273.89. The company has a market capitalization of $810.66 billion, a price-to-earnings ratio of 28.45 and a beta of 1.11.

Alphabet Inc Class C (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $9.66 by $2.09. Alphabet Inc Class C had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. During the same period last year, the firm earned $5.01 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis.

Alphabet Inc Class C 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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Institutional Ownership by Quarter for Alphabet Inc Class C (NASDAQ:GOOG)

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