Alphabet Inc. (GOOG) Holdings Trimmed by Sei Investments Co.
Sei Investments Co. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 286,578 shares of the information services provider’s stock after selling 32,111 shares during the quarter. Alphabet comprises 1.0% of Sei Investments Co.’s holdings, making the stock its 9th biggest position. Sei Investments Co.’s holdings in Alphabet were worth $260,422,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Doyle Wealth Management raised its holdings in Alphabet by 6.7% during the 2nd quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after purchasing an additional 200 shares during the last quarter. Carret Asset Management LLC raised its holdings in Alphabet by 1.5% during the 1st quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock worth $8,281,000 after purchasing an additional 145 shares during the last quarter. Adviser Investments LLC bought a new stake in Alphabet during the 1st quarter worth about $1,276,000. Rothschild Investment Corp IL raised its holdings in Alphabet by 1.7% during the 2nd quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock worth $9,823,000 after purchasing an additional 184 shares during the last quarter. Finally, Stevens Capital Management LP raised its holdings in Alphabet by 228.1% during the 1st quarter. Stevens Capital Management LP now owns 6,463 shares of the information services provider’s stock worth $5,361,000 after purchasing an additional 4,493 shares during the last quarter. 34.52% of the stock is owned by hedge funds and other institutional investors.
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In related news, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the sale, the director now directly owns 3,485 shares in the company, valued at approximately $3,213,692.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $930.46, for a total value of $3,721,840.00. Following the sale, the chief executive officer now owns 1,764 shares in the company, valued at $1,641,331.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,694 shares of company stock worth $38,136,904. 13.92% of the stock is currently owned by corporate insiders.
Alphabet Inc. (GOOG) opened at 984.45 on Friday. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $997.21. The company has a market cap of $682.10 billion, a PE ratio of 35.68 and a beta of 0.94. The company has a 50 day moving average price of $950.14 and a 200-day moving average price of $929.02.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same period in the previous year, the company posted $8.42 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post $30.61 earnings per share for the current fiscal year.
Several analysts have weighed in on GOOG shares. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price objective for the company in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. MKM Partners reissued a “buy” rating and set a $1,170.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $1,200.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Alphabet in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,036.51.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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