Alphabet Inc (GOOG) Shares Sold by Boston Common Asset Management LLC

Boston Common Asset Management LLC lessened its holdings in Alphabet Inc (NASDAQ:GOOG) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,863 shares of the information services provider’s stock after selling 725 shares during the quarter. Alphabet accounts for approximately 2.2% of Boston Common Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding. Boston Common Asset Management LLC’s holdings in Alphabet were worth $17,698,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Summit Trail Advisors LLC raised its position in Alphabet by 132,719.3% during the first quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock worth $18,680,000 after acquiring an additional 18,665,638 shares in the last quarter. Magellan Asset Management Ltd raised its position in Alphabet by 684.2% during the first quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock worth $2,182,080,000 after acquiring an additional 1,845,160 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in Alphabet by 114,793.0% during the second quarter. Cornerstone Wealth Management LLC now owns 723,826 shares of the information services provider’s stock worth $642,000 after acquiring an additional 723,196 shares in the last quarter. BlackRock Inc. raised its position in Alphabet by 1.9% during the first quarter. BlackRock Inc. now owns 19,071,440 shares of the information services provider’s stock worth $19,677,721,000 after acquiring an additional 352,952 shares in the last quarter. Finally, TT International raised its position in Alphabet by 2,493.6% during the first quarter. TT International now owns 205,000 shares of the information services provider’s stock worth $15,178,000 after acquiring an additional 197,096 shares in the last quarter. 34.18% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:GOOG opened at $1,110.08 on Friday. Alphabet Inc has a one year low of $960.52 and a one year high of $1,273.89. The firm has a market capitalization of $830.59 billion, a price-to-earnings ratio of 29.15 and a beta of 1.11. 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 released its quarterly earnings data on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $9.66 by $2.09. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The firm had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. During the same period in the previous year, the company earned $5.01 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis.

In related 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 $552,632.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $1,200.04, for a total transaction of $12,000,400.00. Following the completion of the transaction, the chief executive officer now owns 857 shares in the company, valued at $1,028,434.28. The disclosure for this sale can be found here. Insiders sold 82,680 shares of company stock worth $99,664,675 over the last 90 days. 13.11% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on GOOG shares. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, June 28th. Societe Generale reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, July 6th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 10th. Nomura reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 11th. Finally, Cowen upped their price objective on shares of Alphabet from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a report on Friday, July 13th. One investment 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 stock. The company presently has an average rating of “Buy” and a consensus target price of $1,311.71.

Alphabet 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 (NASDAQ:GOOG)

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