Factory Mutual Insurance Co. Cuts Stake in Alphabet Inc. (GOOG)

Factory Mutual Insurance Co. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,557 shares of the information services provider’s stock after selling 5,000 shares during the period. Alphabet makes up about 2.0% of Factory Mutual Insurance Co.’s portfolio, making the stock its 4th largest holding. Factory Mutual Insurance Co.’s holdings in Alphabet were worth $175,891,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GOOG. Horan Capital Management increased its position in Alphabet by 7.4% during the 1st quarter. Horan Capital Management now owns 26,136 shares of the information services provider’s stock worth $21,681,000 after purchasing an additional 1,807 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its position in Alphabet by 8.8% during the 1st quarter. Honkamp Krueger Financial Services Inc. now owns 1,202 shares of the information services provider’s stock worth $997,000 after purchasing an additional 97 shares in the last quarter. Hall Laurie J Trustee increased its position in Alphabet by 1.6% during the 1st quarter. Hall Laurie J Trustee now owns 2,243 shares of the information services provider’s stock worth $1,865,000 after purchasing an additional 35 shares in the last quarter. Stokes & Hubbell Capital Management LLC increased its position in Alphabet by 1.0% during the 1st quarter. Stokes & Hubbell Capital Management LLC now owns 3,160 shares of the information services provider’s stock worth $2,621,000 after purchasing an additional 31 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. increased its position in Alphabet by 0.8% during the 1st quarter. Prentiss Smith & Co. Inc. now owns 10,529 shares of the information services provider’s stock worth $8,734,000 after purchasing an additional 84 shares in the last quarter. 34.52% of the stock is owned by institutional investors.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $955.25, for a total transaction of $3,821,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,683 shares of the company’s stock, valued at approximately $1,607,685.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David C. Drummond sold 1,496 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the sale, the senior vice president now directly owns 52 shares of the company’s stock, valued at $48,867.52. The disclosure for this sale can be found here. Insiders sold a total of 46,680 shares of company stock valued at $43,521,363 over the last three months. 13.92% of the stock is currently owned by insiders.

A number of research firms recently issued reports on GOOG. UBS AG reiterated a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. Barclays PLC reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have assigned a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,031.14.

Shares of Alphabet Inc. (GOOG) traded up 0.59% during midday trading on Tuesday, reaching $920.40. 437,366 shares of the company’s stock traded hands. The firm has a market capitalization of $637.73 billion, a PE ratio of 33.36 and a beta of 0.94. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The stock’s 50-day moving average price is $924.28 and its 200 day moving average price is $909.27.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.42 EPS. On average, equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

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Alphabet Company Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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