Appleton Partners Inc. MA reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,350 shares of the information services provider’s stock after selling 668 shares during the period. Appleton Partners Inc. MA’s holdings in Alphabet were worth $3,609,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Feltz Wealth PLAN Inc. bought a new stake in Alphabet during the first quarter valued at approximately $170,000. Pinnacle Bank bought a new stake in Alphabet during the first quarter valued at approximately $181,000. Palo Capital Inc. bought a new stake in Alphabet during the first quarter valued at approximately $202,000. BTC Capital Management Inc. bought a new stake in Alphabet during the first quarter valued at approximately $209,000. Finally, Saratoga Research & Investment Management bought a new stake in Alphabet during the first quarter valued at approximately $211,000. Institutional investors and hedge funds own 34.57% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ GOOG) traded down 0.06% during trading on Wednesday, reaching $924.18. The company had a trading volume of 333,465 shares. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a market capitalization of $640.34 billion, a price-to-earnings ratio of 33.49 and a beta of 0.94. The firm has a 50-day moving average of $933.46 and a 200 day moving average of $894.69.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the company posted $8.42 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post $30.60 earnings per share for the current year.
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Several equities research analysts have commented on the company. Canaccord Genuity lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective on the stock. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reiterated a “hold” rating and set a $980.00 target price (down previously from $990.00) on shares of Alphabet in a research report on Monday, July 17th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $1,200.00 target price on shares of Alphabet in a research report on Wednesday, June 28th. Credit Suisse Group increased their target price on Alphabet from $1,100.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,030.47.
In related news, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $968.95, for a total transaction of $177,317.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total value of $3,707,160.00. Following the transaction, the chief executive officer now owns 1,389 shares in the company, valued at $1,287,311.31. The disclosure for this sale can be found here. Insiders sold 47,169 shares of company stock worth $44,206,482 over the last quarter. 13.92% of the stock is currently owned by corporate insiders.
About Alphabet
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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