MCF Advisors LLC Has $179,000 Position in Alphabet Inc Class C (GOOG)

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MCF Advisors LLC lessened its position in shares of Alphabet Inc Class C (NASDAQ:GOOG) by 25.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160 shares of the information services provider’s stock after selling 55 shares during the quarter. MCF Advisors LLC’s holdings in Alphabet Inc Class C were worth $179,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Smart Portfolios LLC purchased a new position in Alphabet Inc Class C during the first quarter valued at $103,000. Braun Bostich & Associates Inc. purchased a new position in Alphabet Inc Class C during the first quarter valued at $107,000. Litman Gregory Asset Management LLC purchased a new position in Alphabet Inc Class C during the first quarter valued at $113,000. WealthShield LLC purchased a new position in shares of Alphabet Inc Class C in the fourth quarter worth about $144,000. Finally, Stelac Advisory Services LLC purchased a new position in shares of Alphabet Inc Class C in the first quarter worth about $145,000. Institutional investors own 34.31% of the company’s stock.

In other Alphabet Inc Class C news, Director L John Doerr sold 10,262 shares of Alphabet Inc Class C stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $1,218.20, for a total transaction of $12,501,168.40. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at $4,245,427. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of Alphabet Inc Class C 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 sale, the senior vice president now owns 39,911 shares of the company’s stock, valued at $45,340,891.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,362 shares of company stock valued at $105,376,354. 13.11% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on GOOG shares. BidaskClub raised shares of Alphabet Inc Class C from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Morgan Stanley reissued a “buy” rating on shares of Alphabet Inc Class C in a research note on Friday, May 18th. Societe Generale reissued a “buy” rating on shares of Alphabet Inc Class C in a research note on Friday, July 6th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet Inc Class C in a research note on Tuesday, July 10th. Finally, Nomura reissued a “buy” rating on shares of Alphabet Inc Class C in a research note on Wednesday, July 11th. Three investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Alphabet Inc Class C has an average rating of “Buy” and an average target price of $1,245.96.

Alphabet Inc Class C stock opened at $1,186.48 on Thursday. Alphabet Inc Class C has a 12-month low of $909.70 and a 12-month high of $1,273.89. The stock has a market cap of $847.79 billion, a P/E 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 data on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $32.13 billion. During the same period last year, the business earned $5.01 earnings per share. Alphabet Inc Class C’s revenue was up 25.6% compared to the same quarter last year.

About Alphabet Inc Class C

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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