1,380 Shares in Alphabet Inc (GOOG) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in shares of Alphabet Inc (NASDAQ:GOOG) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,380 shares of the information services provider’s stock, valued at approximately $1,540,000.

Several other large investors have also added to or reduced their stakes in the company. Pinnacle Financial Partners Inc. lifted its holdings in shares of Alphabet by 8.6% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock valued at $2,378,000 after purchasing an additional 168 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Alphabet by 349.3% in the 1st quarter. Point72 Asset Management L.P. now owns 38,146 shares of the information services provider’s stock valued at $39,359,000 after purchasing an additional 53,446 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Alphabet by 6.3% in the 1st quarter. Cetera Advisors LLC now owns 5,149 shares of the information services provider’s stock valued at $5,181,000 after purchasing an additional 303 shares during the last quarter. Bremer Trust National Association lifted its holdings in shares of Alphabet by 134.5% in the 2nd quarter. Bremer Trust National Association now owns 4,068 shares of the information services provider’s stock valued at $4,539,000 after purchasing an additional 2,333 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Alphabet by 1.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 372,379 shares of the information services provider’s stock valued at $415,444,000 after purchasing an additional 5,209 shares during the last quarter. 34.16% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on GOOG. Raymond James reissued an “outperform” rating and issued a $1,300.00 target price (down from $1,405.00) on shares of Alphabet in a report on Friday, October 26th. Atlantic Securities reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Robert W. Baird reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. BidaskClub downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a report on Friday, August 3rd. Finally, Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have issued a buy rating to the company. Alphabet has an average rating of “Buy” and an average target price of $1,301.81.

Shares of GOOG stock opened at $1,076.77 on Thursday. The company has a market cap of $745.69 billion, a PE ratio of 22.95 and a beta of 1.11. Alphabet Inc has a 12-month low of $980.64 and a 12-month high of $1,273.89. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. The business had revenue of $27.16 billion during the quarter. Alphabet had a return on equity of 19.40% and a net margin of 14.45%.

In related news, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $1,113.91, for a total value of $11,139,100.00. Following the sale, the chief executive officer now owns 532 shares in the company, valued at approximately $592,600.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director L John Doerr sold 10,262 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $1,218.20, for a total value of $12,501,168.40. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at approximately $4,245,427. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,541 shares of company stock valued at $91,842,344. Company insiders own 13.11% of the company’s stock.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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