NuWave Investment Management LLC Sells 324 Shares of Alphabet Inc. (NASDAQ:GOOG)

NuWave Investment Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 73.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115 shares of the information services provider’s stock after selling 324 shares during the period. NuWave Investment Management LLC’s holdings in Alphabet were worth $321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hoese & Co LLP lifted its stake in Alphabet by 400.0% during the fourth quarter. Hoese & Co LLP now owns 10 shares of the information services provider’s stock worth $29,000 after purchasing an additional 8 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth $29,000. Rather & Kittrell Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $34,000. Paragon Capital Management Ltd acquired a new stake in Alphabet in the fourth quarter valued at about $35,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new position in Alphabet during the fourth quarter worth about $37,000. 31.20% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Alphabet from $3,150.00 to $2,900.00 in a research note on Wednesday, April 27th. JPMorgan Chase & Co. reduced their price objective on Alphabet from $3,450.00 to $3,200.00 in a research report on Wednesday, April 27th. Wedbush reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, April 20th. Finally, Raymond James reduced their price target on Alphabet from $3,630.00 to $3,180.00 in a report on Wednesday, April 27th. Twenty-nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $3,315.38.

Shares of NASDAQ GOOG opened at $2,253.69 on Friday. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. Alphabet Inc. has a fifty-two week low of $2,044.16 and a fifty-two week high of $3,042.00. The firm’s 50-day simple moving average is $2,302.17 and its 200 day simple moving average is $2,600.01.

Alphabet’s stock is scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last announced its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.70 by ($1.08). The company had revenue of $56.02 billion for the quarter, compared to analysts’ expectations of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the previous year, the firm earned $26.29 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 110.83 EPS for the current year.

In other news, Director John L. Hennessy sold 33 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $2,348.39, for a total value of $77,496.87. Following the completion of the transaction, the director now directly owns 78 shares of the company’s stock, valued at $183,174.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of Alphabet stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 551,675 shares of company stock valued at $25,567,428. Company insiders own 12.99% of the company’s stock.

About Alphabet (Get Rating)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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