Alphabet Inc Class C (GOOG) Stake Lessened by Heritage Investors Management Corp

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Heritage Investors Management Corp lessened its stake in Alphabet Inc Class C (NASDAQ:GOOG) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,603 shares of the information services provider’s stock after selling 265 shares during the quarter. Alphabet Inc Class C accounts for approximately 1.5% of Heritage Investors Management Corp’s holdings, making the stock its 14th biggest position. Heritage Investors Management Corp’s holdings in Alphabet Inc Class C were worth $25,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Smart Portfolios LLC purchased a new position in shares of Alphabet Inc Class C in the 1st quarter worth about $103,000. Braun Bostich & Associates Inc. purchased a new position in Alphabet Inc Class C in the 1st quarter worth about $107,000. Litman Gregory Asset Management LLC purchased a new position in Alphabet Inc Class C in the 1st quarter worth about $113,000. WealthShield LLC purchased a new position in Alphabet Inc Class C in the 4th quarter worth about $144,000. Finally, Stelac Advisory Services LLC purchased a new position in Alphabet Inc Class C in the 1st quarter worth about $145,000. 34.31% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $1,136.05, for a total transaction of $6,464,124.50. Following the completion of the sale, the senior vice president now owns 39,911 shares of the company’s stock, valued at approximately $45,340,891.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $1,179.07, for a total transaction of $11,790,700.00. Following the sale, the chief executive officer now directly owns 587 shares of the company’s stock, valued at approximately $692,114.09. The disclosure for this sale can be found here. Insiders have sold a total of 78,282 shares of company stock valued at $93,359,650 in the last ninety days. Insiders own 13.11% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub lowered Alphabet Inc Class C from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird reissued a “buy” rating on shares of Alphabet Inc Class C in a research report on Monday. ValuEngine raised Alphabet Inc Class C from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Morgan Stanley reissued a “buy” rating on shares of Alphabet Inc Class C in a research report on Wednesday, August 29th. Finally, Macquarie reissued a “buy” rating on shares of Alphabet Inc Class C in a research report on Monday, August 27th. Three investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Alphabet Inc Class C has a consensus rating of “Buy” and a consensus price target of $1,245.96.

NASDAQ GOOG opened at $1,197.00 on Wednesday. Alphabet Inc Class C has a 52 week low of $909.70 and a 52 week high of $1,273.89. The stock has a market cap of $847.79 billion, a PE ratio of 29.75 and a beta of 1.11. The company has a quick ratio of 4.13, a current ratio of 4.15 and a debt-to-equity ratio of 0.02.

Alphabet Inc Class C (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $9.66 by $2.09. Alphabet Inc Class C had a net margin of 13.16% and a return on equity of 18.24%. The firm had revenue of $32.66 billion during the quarter, compared to analyst estimates of $32.13 billion. During the same quarter in the prior year, the firm earned $5.01 EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year.

Alphabet Inc Class C Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet Inc Class C (NASDAQ:GOOG)

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