Alphabet Inc. $GOOGL Position Cut by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 939,322 shares of the information services provider’s stock after selling 100,213 shares during the period. Alphabet accounts for about 2.1% of AEGON ASSET MANAGEMENT UK Plc’s portfolio, making the stock its 8th biggest position. AEGON ASSET MANAGEMENT UK Plc’s holdings in Alphabet were worth $165,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Missouri Trust & Investment Co raised its position in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the period. AM Investment Strategies LLC lifted its stake in shares of Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares during the last quarter. Bfsg LLC lifted its stake in shares of Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares during the last quarter. Financial Council LLC lifted its stake in shares of Alphabet by 1.0% during the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after acquiring an additional 60 shares during the last quarter. Finally, Enzi Wealth lifted its stake in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last ninety days. 11.64% of the stock is owned by insiders.

Alphabet Stock Up 2.7%

Shares of GOOGL stock opened at $259.92 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $261.68. The stock’s fifty day moving average price is $236.72 and its 200 day moving average price is $195.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $3.14 trillion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Barclays raised their price target on Alphabet from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. HSBC began coverage on Alphabet in a research note on Tuesday, October 7th. They set a “buy” rating and a $285.00 price target for the company. Canaccord Genuity Group raised their price target on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Citizens Jmp raised their price target on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $263.55.

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.