Prio Wealth Limited Partnership cut its holdings in Alphabet Inc (NASDAQ:GOOG) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,220 shares of the information services provider’s stock after selling 1,328 shares during the period. Alphabet comprises 3.4% of Prio Wealth Limited Partnership’s holdings, making the stock its 2nd largest holding. Prio Wealth Limited Partnership’s holdings in Alphabet were worth $69,415,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Smart Portfolios LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $103,000. Braun Bostich & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter worth about $107,000. Litman Gregory Asset Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $113,000. JJJ Advisors Inc. bought a new stake in shares of Alphabet in the 2nd quarter worth about $134,000. Finally, Stelac Advisory Services LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $145,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.
Shares of NASDAQ:GOOG opened at $1,110.08 on Friday. The stock has a market cap of $830.59 billion, a P/E ratio of 29.15 and a beta of 1.11. Alphabet Inc has a 12 month low of $960.52 and a 12 month high of $1,273.89. 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 (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the consensus estimate of $9.66 by $2.09. The company had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The firm’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.01 EPS.
GOOG has been the topic of a number of research reports. Goldman Sachs Group restated a “$1,186.96” rating on shares of Alphabet in a report on Thursday, July 19th. UBS Group restated a “$1,195.88” rating on shares of Alphabet in a report on Wednesday, July 18th. JPMorgan Chase & Co. restated a “$1,195.88” rating on shares of Alphabet in a report on Wednesday, July 18th. Macquarie reiterated a “$1,205.50” rating on shares of Alphabet in a report on Monday, July 23rd. Finally, Credit Suisse Group reiterated a “$1,205.50” rating on shares of Alphabet in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $1,311.71.
In other Alphabet news, Director John L. Hennessy sold 724 shares of the company’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $1,250.30, for a total value of $905,217.20. Following the transaction, the director now directly owns 442 shares in the company, valued at approximately $552,632.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $1,160.42, for a total transaction of $11,604,200.00. Following the completion of the transaction, the chief executive officer now owns 546 shares in the company, valued at $633,589.32. The disclosure for this sale can be found here. Insiders sold a total of 82,680 shares of company stock worth $99,664,675 over the last 90 days. Insiders own 13.11% of the company’s stock.
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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