Smith Asset Management Group LP Sells 8,600 Shares of Alphabet Inc (GOOG)

Smith Asset Management Group LP lowered its holdings in Alphabet Inc (NASDAQ:GOOG) by 20.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,987 shares of the information services provider’s stock after selling 8,600 shares during the period. Alphabet comprises about 1.1% of Smith Asset Management Group LP’s investment portfolio, making the stock its 26th biggest holding. Smith Asset Management Group LP’s holdings in Alphabet were worth $32,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Burt Wealth Advisors raised its holdings in shares of Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares during the last quarter. Almanack Investment Partners LLC. raised its holdings in shares of Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after buying an additional 7 shares during the last quarter. St. Johns Investment Management Company LLC raised its holdings in shares of Alphabet by 1,046.7% during the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the last quarter. Finally, Catamount Wealth Management raised its holdings in shares of Alphabet by 5.8% during the second quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after buying an additional 10 shares during the last quarter. 34.65% of the stock is currently owned by hedge funds and other institutional investors.

In other Alphabet news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total transaction of $186,149.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $1,065.21, for a total transaction of $4,260,840.00. Following the transaction, the chief executive officer now owns 1,031 shares in the company, valued at $1,098,231.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,900 shares of company stock worth $37,877,147. 13.92% of the stock is currently owned by company insiders.

Alphabet Inc (NASDAQ GOOG) opened at $1,122.26 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The stock has a market cap of $782,650.00, a P/E ratio of 37.38 and a beta of 0.94. Alphabet Inc has a 12-month low of $790.52 and a 12-month high of $1,124.29.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.31 by $1.26. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.06 earnings per share.

A number of equities research analysts have recently weighed in on the company. SunTrust Banks lifted their price target on Alphabet to $1,250.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday. Piper Jaffray Companies lifted their price target on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. Finally, BidaskClub raised Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,052.31.

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Alphabet 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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