Alphabet Inc (NASDAQ:GOOG) Shares Sold by Redmond Asset Management LLC
Redmond Asset Management LLC decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,887 shares of the information services provider’s stock after selling 128 shares during the period. Redmond Asset Management LLC’s holdings in Alphabet were worth $2,040,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. 1 North Wealth Services LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $34,000. HMS Capital Management LLC acquired a new stake in shares of Alphabet during the second quarter worth about $38,000. TD Capital Management LLC boosted its stake in shares of Alphabet by 38.5% during the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after buying an additional 10 shares during the period. Truehand Inc acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Finally, Thor Advisors LLC acquired a new stake in shares of Alphabet during the first quarter worth about $56,000. Institutional investors and hedge funds own 33.98% of the company’s stock.
In other Alphabet news, VP Amie Thuener O’toole sold 55 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total value of $66,040.70. Following the completion of the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at $465,887.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Capitalg Lp bought 140,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $34.00 per share, with a total value of $4,760,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,123 shares of company stock valued at $2,553,758. 12.99% of the stock is currently owned by corporate insiders.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. During the same period last year, the company posted $11.75 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc will post 52.1 earnings per share for the current year.
GOOG has been the subject of several recent research reports. Oppenheimer increased their target price on shares of Alphabet from $1,342.00 to $1,370.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Deutsche Bank raised their price objective on shares of Alphabet from $1,400.00 to $1,475.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Bank of America restated a “buy” rating and issued a $1,450.00 price objective (up previously from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. Finally, Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $1,378.93.
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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