Montag A & Associates Inc. Reduces Stake in Alphabet Inc (NASDAQ:GOOG)

Montag A & Associates Inc. lessened its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,631 shares of the information services provider’s stock after selling 785 shares during the period. Alphabet comprises approximately 1.7% of Montag A & Associates Inc.’s investment portfolio, making the stock its 8th largest holding. Montag A & Associates Inc.’s holdings in Alphabet were worth $19,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Bank & Trust raised its stake in Alphabet by 0.8% in the second quarter. First Bank & Trust now owns 1,025 shares of the information services provider’s stock valued at $1,108,000 after buying an additional 8 shares during the period. Scott & Selber Inc. raised its stake in Alphabet by 0.4% in the third quarter. Scott & Selber Inc. now owns 2,285 shares of the information services provider’s stock valued at $2,785,000 after buying an additional 8 shares during the period. Golden State Wealth Management LLC raised its stake in Alphabet by 0.9% in the third quarter. Golden State Wealth Management LLC now owns 895 shares of the information services provider’s stock valued at $1,091,000 after buying an additional 8 shares during the period. Central Bank & Trust Co. increased its stake in shares of Alphabet by 3.1% during the second quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock worth $319,000 after purchasing an additional 9 shares during the period. Finally, Telos Capital Management Inc. increased its stake in shares of Alphabet by 1.0% during the second quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock worth $996,000 after purchasing an additional 9 shares during the period. Institutional investors and hedge funds own 33.78% of the company’s stock.

GOOG has been the topic of a number of recent research reports. ValuEngine lowered Alphabet from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Guggenheim increased their target price on Alphabet from $1,425.00 to $1,525.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Mizuho increased their target price on Alphabet from $1,400.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Cowen increased their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $1,460.27.

In related news, CAO Amie Thuener O’toole sold 54 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $1,191.53, for a total transaction of $64,342.62. Following the sale, the chief accounting officer now owns 388 shares of the company’s stock, valued at $462,313.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 50 shares of the 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 value of $63,822.50. Following the sale, the director now directly owns 1,823 shares in the company, valued at approximately $2,326,968.35. The disclosure for this sale can be found here. Insiders have sold 32,043 shares of company stock worth $40,364,988 in the last three months. 12.99% of the stock is currently owned by company insiders.

NASDAQ:GOOG traded up $2.51 during trading hours on Friday, reaching $1,311.37. 1,251,300 shares of the company were exchanged, compared to its average volume of 1,446,592. The company has a market capitalization of $895.89 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.58 and a beta of 1.00. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,323.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75. The business has a 50 day moving average of $1,240.08 and a 200 day moving average of $1,179.30.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.57 by ($2.45). The company had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company earned $13.06 EPS. As a group, equities research analysts anticipate that Alphabet Inc will post 49.05 earnings per share for the current fiscal year.

About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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