Profit Investment Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,178 shares of the information services provider’s stock after selling 591 shares during the period. Profit Investment Management LLC’s holdings in Alphabet were worth $1,356,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GOOGL. SG Americas Securities LLC boosted its stake in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Capital Research Global Investors boosted its stake in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Wulff Hansen & CO. boosted its stake in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares during the period. PineStone Asset Management Inc. boosted its stake in Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. Institutional investors own 40.03% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Get Our Latest Analysis on Alphabet
Alphabet Stock Up 0.3 %
Alphabet stock opened at $163.42 on Friday. The firm has a market cap of $2.02 trillion, a PE ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s 50 day moving average price is $161.77 and its two-hundred day moving average price is $168.16. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the business earned $1.44 EPS. On average, research analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.
Alphabet Company Profile
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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