Bridge Creek Capital Management LLC Trims Stake in Alphabet Inc Class C (GOOG)

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Bridge Creek Capital Management LLC trimmed its stake in shares of Alphabet Inc Class C (NASDAQ:GOOG) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,136 shares of the information services provider’s stock after selling 138 shares during the period. Alphabet Inc Class C makes up about 1.9% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Bridge Creek Capital Management LLC’s holdings in Alphabet Inc Class C were worth $3,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. HC Financial Advisors Inc. acquired a new position in Alphabet Inc Class C in the fourth quarter valued at approximately $1,156,000. Sheaff Brock Investment Advisors LLC lifted its holdings in Alphabet Inc Class C by 2.1% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 3,336 shares of the information services provider’s stock valued at $3,491,000 after buying an additional 69 shares during the period. Allen Capital Group LLC acquired a new position in Alphabet Inc Class C in the fourth quarter valued at approximately $277,000. Logan Capital Management Inc. lifted its holdings in Alphabet Inc Class C by 1.7% in the fourth quarter. Logan Capital Management Inc. now owns 12,648 shares of the information services provider’s stock valued at $13,235,000 after buying an additional 212 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in Alphabet Inc Class C by 22.3% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 3,479 shares of the information services provider’s stock valued at $3,640,000 after buying an additional 635 shares during the period. Institutional investors own 34.31% of the company’s stock.

GOOG opened at $1,186.48 on Thursday. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $847.79 billion, a price-to-earnings ratio of 29.75 and a beta of 1.11. Alphabet Inc Class C has a twelve month low of $909.70 and a twelve month high of $1,273.89.

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

In other news, CAO Amie Thuener O’toole sold 80 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total transaction of $95,504.00. Following the completion of the sale, the chief accounting officer now owns 388 shares of the company’s stock, valued at $463,194.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction on Wednesday, June 20th. The stock was 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. Over the last quarter, insiders sold 88,362 shares of company stock worth $105,376,354. Company insiders own 13.11% of the company’s stock.

Several equities analysts recently weighed in on GOOG shares. Barclays restated a “buy” rating on shares of Alphabet Inc Class C in a report on Monday, August 20th. Oppenheimer increased their price objective on shares of Alphabet Inc Class C from $1,350.00 to $1,450.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. BidaskClub lowered shares of Alphabet Inc Class C from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Cowen increased their price objective on shares of Alphabet Inc Class C from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a report on Friday, July 13th. Finally, Morgan Stanley restated a “buy” rating on shares of Alphabet Inc Class C in a report on Friday, May 18th. Three research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $1,245.96.

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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