Resource Management LLC Lowers Position in Alphabet Inc (NASDAQ:GOOG)

Resource Management LLC cut its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 818 shares of the information services provider’s stock after selling 62 shares during the quarter. Resource Management LLC’s holdings in Alphabet were worth $884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Oregon Public Employees Retirement Fund raised its position in Alphabet by 102,010.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56,169,241 shares in the last quarter. BlackRock Inc. raised its position in Alphabet by 0.6% in the 4th quarter. BlackRock Inc. now owns 19,618,313 shares of the information services provider’s stock valued at $20,316,919,000 after purchasing an additional 125,866 shares in the last quarter. Lunia Capital LP raised its position in Alphabet by 135,522.5% in the 4th quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock valued at $16,870,000 after purchasing an additional 16,857,647 shares in the last quarter. Jennison Associates LLC raised its position in Alphabet by 4.3% in the 4th quarter. Jennison Associates LLC now owns 1,871,132 shares of the information services provider’s stock valued at $1,937,763,000 after purchasing an additional 76,345 shares in the last quarter. Finally, Sanders Capital LLC raised its position in Alphabet by 3.5% in the 2nd quarter. Sanders Capital LLC now owns 1,267,225 shares of the information services provider’s stock valued at $1,495,736,000 after purchasing an additional 42,535 shares in the last quarter. Institutional investors and hedge funds own 34.02% of the company’s stock.

GOOG has been the topic of a number of analyst reports. Credit Suisse Group increased their price target on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price target on the stock. in a research report on Tuesday, April 30th. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Cowen increased their price target on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price target on the stock in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,373.93.

Shares of GOOG traded down $16.79 during mid-day trading on Friday, reaching $1,188.01. The company’s stock had a trading volume of 1,013,989 shares, compared to its average volume of 1,690,454. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27. The firm has a market capitalization of $814.04 billion, a PE ratio of 25.01, a PEG ratio of 1.29 and a beta of 0.96. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $1,148.18.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. During the same quarter in the prior year, the business posted $11.75 EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc will post 52.1 EPS for the current fiscal year.

In other news, VP Amie Thuener O’toole sold 69 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $1,100.52, for a total value of $75,935.88. Following the transaction, the vice president now owns 388 shares in the company, valued at approximately $427,001.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 27 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $1,213.14, for a total value of $32,754.78. Following the completion of the transaction, the director now owns 1,803 shares in the company, valued at approximately $2,187,291.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,123 shares of company stock worth $2,553,758. Company insiders own 12.99% of the company’s stock.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Read More: Why Invest in Dividend Achievers?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.