MUFG Americas Holdings Corp Decreases Holdings in Alphabet Inc. (GOOG)

MUFG Americas Holdings Corp decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,651 shares of the information services provider’s stock after selling 495 shares during the period. MUFG Americas Holdings Corp’s holdings in Alphabet were worth $12,153,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOG. Bank of Montreal Can increased its position in shares of Alphabet by 12.0% during the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock worth $1,404,065,000 after acquiring an additional 181,085 shares during the period. Pictet Asset Management Ltd. increased its position in shares of Alphabet by 35.8% during the first quarter. Pictet Asset Management Ltd. now owns 422,437 shares of the information services provider’s stock worth $350,437,000 after acquiring an additional 111,292 shares during the period. Russell Investments Group Ltd. increased its position in shares of Alphabet by 12.0% during the first quarter. Russell Investments Group Ltd. now owns 876,999 shares of the information services provider’s stock worth $727,645,000 after acquiring an additional 94,111 shares during the period. C WorldWide Group Holding A S increased its position in shares of Alphabet by 11.4% during the first quarter. C WorldWide Group Holding A S now owns 491,269 shares of the information services provider’s stock worth $407,537,000 after acquiring an additional 50,375 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of Alphabet by 8.9% during the first quarter. Canada Pension Plan Investment Board now owns 404,951 shares of the information services provider’s stock worth $335,931,000 after acquiring an additional 33,100 shares during the period. 34.55% of the stock is owned by hedge funds and other institutional investors.

GOOG has been the topic of several research reports. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research report on Wednesday, June 28th. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 target price for the company. in a research report on Wednesday, August 30th. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 target price for the company. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,031.14.

Alphabet Inc. (NASDAQ:GOOG) traded down 0.52% during trading on Friday, reaching $920.29. 2,505,430 shares of the company’s stock traded hands. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The stock has a market capitalization of $637.65 billion, a P/E ratio of 33.35 and a beta of 0.94. The company has a 50-day moving average of $925.04 and a 200 day moving average of $907.53.

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

In other news, SVP David C. Drummond sold 1,496 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the completion of the sale, the senior vice president now directly owns 52 shares in the company, valued at approximately $48,867.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 37 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $940.67, for a total value of $34,804.79. Following the sale, the director now owns 1,789 shares of the company’s stock, valued at $1,682,858.63. The disclosure for this sale can be found here. Insiders have sold a total of 46,680 shares of company stock worth $43,521,363 in the last ninety days. Insiders own 13.92% of the company’s stock.

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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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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