Aljian Capital Management LLC Sells 2,303 Shares of Alphabet Inc. $GOOG

Aljian Capital Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 86,483 shares of the information services provider’s stock after selling 2,303 shares during the quarter. Alphabet comprises about 3.4% of Aljian Capital Management LLC’s holdings, making the stock its 7th largest holding. Aljian Capital Management LLC’s holdings in Alphabet were worth $15,341,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC lifted its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new position in shares of Alphabet in the first quarter worth about $2,622,943,000. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $369,713,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research note on Thursday. HSBC reissued a “buy” rating and issued a $335.00 target price on shares of Alphabet in a research report on Thursday. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ GOOG opened at $281.82 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.41 trillion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a 50-day moving average price of $244.59 and a two-hundred day moving average price of $200.98.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.