Boston Partners Sells 32,355 Shares of Alphabet Inc (GOOG)

Boston Partners reduced its stake in Alphabet Inc (NASDAQ:GOOG) by 20.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,220 shares of the information services provider’s stock after selling 32,355 shares during the quarter. Boston Partners’ holdings in Alphabet were worth $136,355,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Smart Portfolios LLC purchased a new position in Alphabet during the first quarter worth about $103,000. Braun Bostich & Associates Inc. purchased a new position in Alphabet during the first quarter worth about $107,000. Litman Gregory Asset Management LLC purchased a new position in Alphabet during the first quarter worth about $113,000. JJJ Advisors Inc. purchased a new position in Alphabet during the second quarter worth about $134,000. Finally, Stelac Advisory Services LLC purchased a new position in Alphabet during the first quarter worth about $145,000. Institutional investors and hedge funds own 34.18% of the company’s stock.

Shares of NASDAQ:GOOG opened at $1,157.35 on Monday. The stock has a market cap of $830.59 billion, a price-to-earnings ratio of 29.15 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 has a 12 month low of $960.52 and a 12 month high of $1,273.89.

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

In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $1,160.42, for a total transaction of $11,604,200.00. Following the completion of the sale, the chief executive officer now directly owns 546 shares in the company, valued at $633,589.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amie Thuener O’toole sold 80 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $1,206.20, for a total value of $96,496.00. Following the completion of the sale, the vice president now owns 388 shares of the company’s stock, valued at approximately $468,005.60. The disclosure for this sale can be found here. Insiders have sold 88,370 shares of company stock valued at $106,307,067 over the last 90 days. 13.11% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on GOOG shares. Goldman Sachs Group reiterated a “$1,186.96” rating on shares of Alphabet in a research report on Thursday, July 19th. UBS Group reiterated a “$1,195.88” rating on shares of Alphabet in a research report on Wednesday, July 18th. JPMorgan Chase & Co. reiterated a “$1,195.88” rating on shares of Alphabet in a research report on Wednesday, July 18th. Macquarie reiterated a “$1,205.50” rating on shares of Alphabet in a research report on Monday, July 23rd. Finally, Credit Suisse Group reiterated a “$1,205.50” rating on shares of Alphabet in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $1,311.71.

About Alphabet

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.

Further Reading: Asset Allocation

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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