Berkeley Capital Partners LLC Sells 8 Shares of Alphabet Inc (NASDAQ:GOOG)

Berkeley Capital Partners LLC cut its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 238 shares of the information services provider’s stock after selling 8 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Alphabet were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Advisor Group Holdings Inc. acquired a new position in Alphabet during the first quarter worth $73,436,000. Copper Rock Capital Partners LLC raised its holdings in shares of Alphabet by 6,302.5% in the second quarter. Copper Rock Capital Partners LLC now owns 594,344 shares of the information services provider’s stock valued at $798,166,000 after purchasing an additional 585,061 shares during the last quarter. Baupost Group LLC MA purchased a new stake in shares of Alphabet in the first quarter valued at about $349,424,000. BlackRock Inc. raised its holdings in shares of Alphabet by 1.5% in the first quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock valued at $23,563,444,000 after purchasing an additional 295,467 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Alphabet by 5.0% in the first quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock valued at $5,297,617,000 after purchasing an additional 218,823 shares during the last quarter. 32.91% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Robert W. Baird raised their price objective on shares of Alphabet from $1,650.00 to $1,675.00 in a report on Friday. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a report on Friday. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $1,671.00.

In other Alphabet news, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $1,495.85, for a total transaction of $89,751.00. Following the transaction, the director now directly owns 664 shares of the company’s stock, valued at $993,244.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 32 shares of Alphabet stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the transaction, the director now directly owns 1,119 shares in the company, valued at $1,587,178.41. The disclosure for this sale can be found here. Insiders have sold 212 shares of company stock worth $303,047 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet stock traded down $48.49 during mid-day trading on Friday, hitting $1,482.96. 3,429,036 shares of the company traded hands, compared to its average volume of 1,408,813. Alphabet Inc has a one year low of $1,013.54 and a one year high of $1,586.99. The stock has a market cap of $1,012.30 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The stock has a fifty day moving average price of $1,474.19 and a 200-day moving average price of $1,377.20.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. The business had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Sell-side analysts predict that Alphabet Inc will post 42.07 EPS for the current year.

About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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