BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Alphabet Inc (NASDAQ:GOOG) by 22.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,710 shares of the information services provider’s stock after selling 37,987 shares during the period. Alphabet makes up about 1.3% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s investment portfolio, making the stock its 6th biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Alphabet were worth $148,058,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Braun Bostich & Associates Inc. acquired a new stake in Alphabet in the first quarter worth $107,000. Litman Gregory Asset Management LLC acquired a new stake in Alphabet in the first quarter worth $113,000. JJJ Advisors Inc. acquired a new stake in Alphabet in the second quarter worth $134,000. Stelac Advisory Services LLC acquired a new stake in Alphabet in the first quarter worth $145,000. Finally, Well Done LLC acquired a new stake in Alphabet in the first quarter worth $176,000. Institutional investors and hedge funds own 34.16% of the company’s stock.
GOOG has been the topic of several analyst reports. Goldman Sachs Group reiterated a “$1,186.96” rating on shares of Alphabet in a report on Thursday, July 19th. UBS Group reiterated a “$1,195.88” rating on shares of Alphabet in a report on Wednesday, July 18th. JPMorgan Chase & Co. reiterated a “$1,195.88” rating on shares of Alphabet in a report on Wednesday, July 18th. Credit Suisse Group reiterated a “$1,205.50” rating on shares of Alphabet in a report on Monday, July 23rd. Finally, Macquarie reiterated a “$1,205.50” rating on shares of Alphabet in a report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,301.81.
In related news, Director Ann Mather sold 24 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $1,206.20, for a total value of $28,948.80. Following the completion of the transaction, the director now owns 1,898 shares of the company’s stock, valued at $2,289,367.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $1,113.91, for a total transaction of $11,139,100.00. Following the completion of the transaction, the chief executive officer now directly owns 532 shares of the company’s stock, valued at approximately $592,600.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,541 shares of company stock worth $91,842,344. 13.11% of the stock is currently owned by company insiders.
Shares of NASDAQ:GOOG opened at $1,076.77 on Thursday. Alphabet Inc has a 12 month low of $980.64 and a 12 month high of $1,273.89. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. The firm has a market cap of $745.69 billion, a P/E ratio of 22.95 and a beta of 1.11.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. The business had revenue of $27.16 billion for the quarter.
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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