Alphabet Inc Class C (GOOG) is ZWJ Investment Counsel Inc.’s 6th Largest Position

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ZWJ Investment Counsel Inc. lowered its position in Alphabet Inc Class C (NASDAQ:GOOG) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,395 shares of the information services provider’s stock after selling 230 shares during the quarter. Alphabet Inc Class C accounts for 2.6% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 6th biggest position. ZWJ Investment Counsel Inc.’s holdings in Alphabet Inc Class C were worth $30,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Summit Trail Advisors LLC raised its position in Alphabet Inc Class C by 132,719.3% in the first quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock valued at $18,680,000 after purchasing an additional 18,665,638 shares during the period. Magellan Asset Management Ltd raised its position in Alphabet Inc Class C by 684.2% in the first quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock valued at $2,182,080,000 after purchasing an additional 1,845,160 shares during the period. Cornerstone Wealth Management LLC raised its position in Alphabet Inc Class C by 114,793.0% in the second quarter. Cornerstone Wealth Management LLC now owns 723,826 shares of the information services provider’s stock valued at $642,000 after purchasing an additional 723,196 shares during the period. BlackRock Inc. raised its position in Alphabet Inc Class C by 1.9% in the first quarter. BlackRock Inc. now owns 19,071,440 shares of the information services provider’s stock valued at $19,677,721,000 after purchasing an additional 352,952 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its position in Alphabet Inc Class C by 25.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 997,418 shares of the information services provider’s stock valued at $1,043,696,000 after purchasing an additional 202,975 shares during the period. Hedge funds and other institutional investors own 34.31% of the company’s stock.

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

In related news, Director John L. Hennessy sold 724 shares of Alphabet Inc Class C stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $1,250.30, for a total value of $905,217.20. Following the completion of the transaction, the director now directly owns 442 shares in the company, valued at $552,632.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of Alphabet Inc Class C stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $1,192.12, for a total value of $11,921,200.00. Following the completion of the transaction, the chief executive officer now owns 871 shares of the company’s stock, valued at $1,038,336.52. The disclosure for this sale can be found here. Insiders sold 88,362 shares of company stock valued at $105,376,354 over the last quarter. Insiders own 13.11% of the company’s stock.

NASDAQ:GOOG traded down $6.48 during mid-day trading on Friday, reaching $1,164.96. The stock had a trading volume of 12,598 shares, compared to its average volume of 1,228,879. The company has a market capitalization of $825.73 billion, a price-to-earnings ratio of 28.97 and a beta of 1.11. Alphabet Inc Class C has a 1-year low of $909.70 and a 1-year high of $1,273.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15.

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

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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