Alphabet Inc. (NASDAQ:GOOG) Stake Lessened by Sarasin & Partners LLP

Sarasin & Partners LLP lowered its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,682 shares of the information services provider’s stock after selling 7,685 shares during the period. Alphabet makes up 2.9% of Sarasin & Partners LLP’s portfolio, making the stock its 11th biggest position. Sarasin & Partners LLP’s holdings in Alphabet were worth $233,362,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GOOG. Rodgers Brothers Inc. grew its holdings in Alphabet by 9.4% during the 4th quarter. Rodgers Brothers Inc. now owns 337 shares of the information services provider’s stock worth $975,000 after acquiring an additional 29 shares during the period. Navellier & Associates Inc. grew its holdings in Alphabet by 38.9% during the 4th quarter. Navellier & Associates Inc. now owns 2,892 shares of the information services provider’s stock worth $8,368,000 after acquiring an additional 810 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in Alphabet during the 4th quarter worth $5,470,000. Taconic Capital Advisors LP grew its holdings in Alphabet by 20.0% during the 4th quarter. Taconic Capital Advisors LP now owns 600 shares of the information services provider’s stock worth $1,736,000 after acquiring an additional 100 shares during the period. Finally, IHT Wealth Management LLC grew its holdings in Alphabet by 2.3% during the 4th quarter. IHT Wealth Management LLC now owns 3,464 shares of the information services provider’s stock worth $10,023,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 1,109 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares in the company, valued at approximately $3,484,117.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, Director Ann Mather sold 20 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares in the company, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Insiders have sold 44,536 shares of company stock worth $15,729,998 in the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Susquehanna Bancshares lowered their target price on shares of Alphabet from $187.00 to $150.00 in a report on Wednesday, July 27th. Cowen reduced their price target on shares of Alphabet from $300.00 to $150.00 in a research report on Monday, July 25th. Cowen reduced their price target on shares of Alphabet from $300.00 to $150.00 in a research report on Monday, July 25th. Guggenheim reduced their price target on shares of Alphabet to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Finally, Credit Suisse Group set a $143.00 price target on shares of Alphabet in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.05.

Alphabet Trading Up 0.6 %

Shares of NASDAQ:GOOG opened at $100.57 on Friday. The company’s 50-day moving average price is $112.60 and its two-hundred day moving average price is $118.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. Alphabet Inc. has a one year low of $99.41 and a one year high of $152.10. The stock has a market capitalization of $1.31 trillion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same period last year, the firm earned $27.26 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Alphabet Company Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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