Capital Advisors Inc. OK Reduces Stake in Alphabet Inc (GOOG)

Capital Advisors Inc. OK reduced its position in Alphabet Inc (NASDAQ:GOOG) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,849 shares of the information services provider’s stock after selling 361 shares during the period. Alphabet makes up about 1.0% of Capital Advisors Inc. OK’s investment portfolio, making the stock its 25th biggest position. Capital Advisors Inc. OK’s holdings in Alphabet were worth $16,566,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC raised its holdings in Alphabet by 132,719.3% in the 1st quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock worth $18,680,000 after purchasing an additional 18,665,638 shares during the period. Magellan Asset Management Ltd raised its holdings in Alphabet by 684.2% in the 1st quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock worth $2,182,080,000 after purchasing an additional 1,845,160 shares during the period. Cornerstone Wealth Management LLC raised its holdings in Alphabet by 114,793.0% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 723,826 shares of the information services provider’s stock worth $642,000 after purchasing an additional 723,196 shares during the period. BlackRock Inc. raised its holdings in Alphabet by 1.9% in the 1st quarter. BlackRock Inc. now owns 19,071,440 shares of the information services provider’s stock worth $19,677,721,000 after purchasing an additional 352,952 shares during the period. Finally, TT International raised its holdings in Alphabet by 2,493.6% in the 1st quarter. TT International now owns 205,000 shares of the information services provider’s stock worth $15,178,000 after purchasing an additional 197,096 shares during the period. Hedge funds and other institutional investors own 34.18% of the company’s stock.

In other news, CEO Sundar Pichai sold 10,000 shares of Alphabet stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $1,198.47, for a total value of $11,984,700.00. Following the sale, the chief executive officer now directly owns 574 shares of the company’s stock, valued at $687,921.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 724 shares of Alphabet stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $1,250.30, for a total value of $905,217.20. Following the completion of the sale, the director now directly owns 442 shares in the company, valued at $552,632.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,680 shares of company stock worth $99,664,675. Insiders own 13.11% of the company’s stock.

NASDAQ:GOOG opened at $1,110.08 on Friday. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. The stock has a market cap of $830.59 billion, a price-to-earnings ratio of 29.15 and a beta of 1.11. Alphabet Inc has a 52 week low of $960.52 and a 52 week high of $1,273.89.

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

A number of brokerages recently commented on GOOG. Atlantic Securities reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Robert W. Baird reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Raymond James reaffirmed an “outperform” rating and issued a $1,405.00 target price (up from $1,240.00) on shares of Alphabet in a report on Tuesday, July 24th. BidaskClub cut Alphabet from a “strong-buy” rating to a “buy” rating in a report on Friday, August 3rd. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus price target 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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