Ninety One UK Ltd Reduces Stake in Alphabet Inc (NASDAQ:GOOG)

Ninety One UK Ltd lowered its stake in Alphabet Inc (NASDAQ:GOOG) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,449 shares of the information services provider’s stock after selling 515 shares during the period. Ninety One UK Ltd’s holdings in Alphabet were worth $27,493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Public Employees Retirement Association of Colorado boosted its position in shares of Alphabet by 4.1% during the first quarter. Public Employees Retirement Association of Colorado now owns 58,722 shares of the information services provider’s stock valued at $68,283,000 after buying an additional 2,297 shares during the period. Paradigm Financial Partners LLC raised its stake in Alphabet by 19.6% during the 1st quarter. Paradigm Financial Partners LLC now owns 299 shares of the information services provider’s stock worth $362,000 after acquiring an additional 49 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Alphabet by 36.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 662 shares of the information services provider’s stock worth $770,000 after acquiring an additional 177 shares in the last quarter. BRYN MAWR TRUST Co raised its stake in Alphabet by 4.3% during the 1st quarter. BRYN MAWR TRUST Co now owns 21,539 shares of the information services provider’s stock worth $25,046,000 after acquiring an additional 886 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Alphabet by 2.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,571 shares of the information services provider’s stock worth $39,036,000 after acquiring an additional 751 shares in the last quarter. Institutional investors own 32.42% of the company’s stock.

In other Alphabet news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $1,538.29, for a total value of $92,297.40. Following the sale, the director now owns 517 shares of the company’s stock, valued at $795,295.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.99% of the stock is owned by corporate insiders.

GOOG has been the topic of several research analyst reports. Mizuho lifted their price target on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Robert W. Baird lifted their price objective on shares of Alphabet from $1,650.00 to $1,675.00 in a research note on Friday, July 31st. UBS Group restated a “buy” rating and issued a $1,970.00 price objective (up from $1,600.00) on shares of Alphabet in a research note on Tuesday, August 25th. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $1,505.00 to $1,700.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $1,688.62.

GOOG stock traded down $20.54 during trading on Wednesday, reaching $1,520.90. 1,311,146 shares of the company were exchanged, compared to its average volume of 1,976,553. The company has a market cap of $1,048.43 billion, a P/E ratio of 33.57, a PEG ratio of 2.10 and a beta of 1.07. Alphabet Inc has a 52-week low of $1,013.54 and a 52-week high of $1,733.18. The stock’s 50 day moving average price is $1,550.45 and its 200 day moving average price is $1,395.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The firm had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. As a group, equities research analysts forecast that Alphabet Inc will post 44.74 EPS for the current year.

Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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