Ithaka Group LLC decreased its position in Alphabet Inc (NASDAQ:GOOG) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,227 shares of the information services provider’s stock after selling 595 shares during the period. Alphabet comprises about 5.9% of Ithaka Group LLC’s investment portfolio, making the stock its 5th biggest holding. Ithaka Group LLC’s holdings in Alphabet were worth $38,185,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Braun Bostich & Associates Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $107,000. JJJ Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter worth approximately $134,000. Stelac Advisory Services LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $145,000. Well Done LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $176,000. Finally, Clearwater Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $189,000. 34.16% of the stock is owned by hedge funds and other institutional investors.
GOOG has been the subject of a number of research analyst reports. Cowen increased their target price on shares of Alphabet from $1,245.00 to $1,350.00 and gave the stock an “outperform” rating in a research report on Friday, July 13th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Monday, July 16th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Monday, July 16th. Credit Suisse Group reiterated a “buy” rating on shares of Alphabet in a research report on Monday, July 16th. Finally, JPMorgan Chase & Co. reiterated a “$1,195.88” rating on shares of Alphabet in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $1,301.81.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating analysts’ consensus estimates of $10.41 by $2.65. The business had revenue of $27.16 billion for the quarter. Alphabet had a net margin of 14.45% and a return on equity of 19.40%.
In other news, Director L John Doerr sold 10,262 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 3,485 shares in the company, valued at approximately $4,245,427. 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 the firm’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $1,073.27, for a total transaction of $10,732,700.00. Following the transaction, the chief executive officer now owns 844 shares in the company, valued at approximately $905,839.88. The disclosure for this sale can be found here. Insiders have sold a total of 87,621 shares of company stock worth $102,660,942 in the last 90 days. 13.11% of the stock is owned by insiders.
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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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