Kornitzer Capital Management Inc. KS Sells 531 Shares of Alphabet Inc (NASDAQ:GOOG)

Kornitzer Capital Management Inc. KS decreased its stake in Alphabet Inc (NASDAQ:GOOG) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,476 shares of the information services provider’s stock after selling 531 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Alphabet were worth $10,332,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Marietta Wealth Management LLC raised its position in shares of Alphabet by 48.5% in the second quarter. Marietta Wealth Management LLC now owns 643 shares of the information services provider’s stock valued at $695,000 after purchasing an additional 210 shares during the period. Curbstone Financial Management Corp raised its position in shares of Alphabet by 4.3% in the second quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock valued at $3,688,000 after purchasing an additional 140 shares during the period. Veritas Investment Management LLP raised its position in shares of Alphabet by 2.8% in the second quarter. Veritas Investment Management LLP now owns 34,098 shares of the information services provider’s stock valued at $36,853,000 after purchasing an additional 936 shares during the period. FTB Advisors Inc. raised its position in shares of Alphabet by 5.5% in the second quarter. FTB Advisors Inc. now owns 3,401 shares of the information services provider’s stock valued at $3,676,000 after purchasing an additional 177 shares during the period. Finally, Gryphon Financial Partners LLC raised its position in shares of Alphabet by 88.0% in the second quarter. Gryphon Financial Partners LLC now owns 549 shares of the information services provider’s stock valued at $594,000 after purchasing an additional 257 shares during the period. 33.78% of the stock is currently owned by institutional investors and hedge funds.

Alphabet stock traded down $0.22 during midday trading on Friday, reaching $1,308.64. 96,844 shares of the stock were exchanged, compared to its average volume of 1,297,519. The company’s fifty day moving average is $1,240.08 and its 200-day moving average is $1,179.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78. The firm has a market cap of $895.89 billion, a PE ratio of 27.50, a PEG ratio of 1.58 and a beta of 1.00. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,323.74.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.57 by ($2.45). The firm had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the company posted $13.06 EPS. On average, sell-side analysts anticipate that Alphabet Inc will post 49.05 earnings per share for the current fiscal year.

In other Alphabet news, Director Ann Mather sold 50 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $1,276.45, for a total value of $63,822.50. Following the completion of the transaction, the director now owns 1,823 shares of the company’s stock, valued at approximately $2,326,968.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 54 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $1,276.45, for a total transaction of $68,928.30. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at approximately $495,262.60. The disclosure for this sale can be found here. In the last three months, insiders sold 32,043 shares of company stock valued at $40,364,988. Corporate insiders own 12.99% of the company’s stock.

Several research firms have recently issued reports on GOOG. Bank of America reissued a “buy” rating and issued a $1,450.00 price target (up previously from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Monday. Benchmark reissued a “buy” rating and issued a $1,360.00 price target (up previously from $1,315.00) on shares of Alphabet in a research report on Friday, July 26th. Deutsche Bank lowered their price target on shares of Alphabet from $1,600.00 to $1,550.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $1,460.27.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

See Also: What strategies should day traders use to execute a trade?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply