Korea Investment CORP Sells 1,200 Shares of Alphabet Inc (GOOG)

Korea Investment CORP decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 239,288 shares of the information services provider’s stock after selling 1,200 shares during the quarter. Alphabet makes up about 1.2% of Korea Investment CORP’s investment portfolio, making the stock its 9th biggest holding. Korea Investment CORP’s holdings in Alphabet were worth $266,962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pinnacle Financial Partners Inc. raised its position in Alphabet by 8.6% during the second quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock worth $2,378,000 after acquiring an additional 168 shares in the last quarter. Point72 Asset Management L.P. raised its position in Alphabet by 349.3% during the first quarter. Point72 Asset Management L.P. now owns 38,146 shares of the information services provider’s stock worth $39,359,000 after acquiring an additional 53,446 shares in the last quarter. Cetera Advisors LLC raised its position in Alphabet by 6.3% during the first quarter. Cetera Advisors LLC now owns 5,149 shares of the information services provider’s stock worth $5,181,000 after acquiring an additional 303 shares in the last quarter. Bremer Trust National Association raised its position in Alphabet by 134.5% during the second quarter. Bremer Trust National Association now owns 4,068 shares of the information services provider’s stock worth $4,539,000 after acquiring an additional 2,333 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Alphabet by 1.4% during the second quarter. CIBC Private Wealth Group LLC now owns 372,379 shares of the information services provider’s stock worth $415,444,000 after acquiring an additional 5,209 shares in the last quarter. Institutional investors and hedge funds own 34.16% of the company’s stock.

In related news, CAO Amie Thuener O’toole sold 80 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total transaction of $95,504.00. Following the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $463,194.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 24 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $1,206.20, for a total transaction of $28,948.80. Following the transaction, the director now directly owns 1,898 shares in the company, valued at $2,289,367.60. The disclosure for this sale can be found here. Insiders sold 87,621 shares of company stock worth $102,660,942 over the last three months. Insiders own 13.11% of the company’s stock.

Several research firms have issued reports on GOOG. BidaskClub lowered shares of Alphabet from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Atlantic Securities reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Robert W. Baird reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Raymond James reaffirmed an “outperform” rating and set a $1,405.00 price target (up from $1,240.00) on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $1,301.81.

Shares of GOOG opened at $1,066.15 on Friday. The stock has a market capitalization of $760.87 billion, a PE ratio of 24.60 and a beta of 1.16. Alphabet Inc has a fifty-two week low of $980.64 and a fifty-two week high of $1,273.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $10.41 by $2.65. The company had revenue of $27.16 billion for the quarter. Alphabet had a net margin of 14.45% and a return on equity of 19.40%.

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About Alphabet

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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