Filed Under: Finance - SEC Filing Articles
Riverbridge Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,387 shares of the company’s stock after selling 294 shares during the period. Riverbridge Partners LLC’s holdings in Alphabet were worth $15,069,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Lakeview Capital Partners LLC increased its stake in shares of Alphabet by 0.3% in the second quarter. Lakeview Capital Partners LLC now owns 327 shares of the company’s stock worth $226,000 after buying an additional 1 shares during the last quarter. Shufro Rose & Co. LLC increased its position in Alphabet by 0.6% in the second quarter. Shufro Rose & Co. LLC now owns 357 shares of the company’s stock valued at $247,000 after buying an additional 2 shares in the last quarter. Alpha Windward LLC increased its position in Alphabet by 0.9% in the third quarter. Alpha Windward LLC now owns 222 shares of the company’s stock valued at $173,000 after buying an additional 2 shares in the last quarter. 1st Global Advisors Inc. increased its position in Alphabet by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 658 shares of the company’s stock valued at $455,000 after buying an additional 3 shares in the last quarter. Finally, Cadence Bank NA increased its position in Alphabet by 0.5% in the second quarter. Cadence Bank NA now owns 734 shares of the company’s stock valued at $508,000 after buying an additional 4 shares in the last quarter. 34.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. ( NASDAQ:GOOG ) opened at 807.88 on Friday. The stock has a 50 day moving average price of $779.29 and a 200-day moving average price of $765.14. Alphabet Inc. has a 1-year low of $663.06 and a 1-year high of $816.68. The firm has a market cap of $556.82 billion, a price-to-earnings ratio of 29.57 and a beta of 0.93.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.62 by $0.44. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $13.17 billion. Alphabet had a return on equity of 15.08% and a net margin of 22.29%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm posted $7.35 EPS. On average, equities research analysts expect that Alphabet Inc. will post $34.48 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This story was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/01/14/alphabet-inc-goog-stake-decreased-by-riverbridge-partners-llc.html.
Several equities analysts have weighed in on the company. Mizuho reaffirmed a “buy” rating and issued a $1,025.00 target price (up from $1,020.00) on shares of Alphabet in a research report on Friday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $925.00 target price (up from $900.00) on shares of Alphabet in a research report on Friday, October 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $900.00 target price on shares of Alphabet in a research report on Monday, October 24th. RBC Capital Markets set a $880.00 target price on Alphabet and gave the company a “buy” rating in a research report on Tuesday, December 20th. Finally, reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, September 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and forty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $941.91.
In other news, VP James Grier Campbell sold 194 shares of Alphabet stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $744.59, for a total transaction of $144,450.46. The sale was disclosed in a filing with the SEC, which is available at this link . Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $801.27, for a total value of $3,205,080.00. Following the transaction, the chief executive officer now owns 2,856 shares in the company, valued at approximately $2,288,427.12. The disclosure for this sale can be found here . 13.92% of the stock is owned by corporate insiders.
About Alphabet
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
Receive News & Stock Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related stocks with our FREE daily email newsletter .
 Comment on this Post