Alphabet Inc. (GOOG) Stake Lowered by Scge Management L.P.

Scge Management L.P. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 16.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,750 shares of the information services provider’s stock after selling 7,250 shares during the quarter. Alphabet accounts for approximately 7.7% of Scge Management L.P.’s holdings, making the stock its 7th biggest holding. Scge Management L.P.’s holdings in Alphabet were worth $29,657,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its position in Alphabet by 0.3% during the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock valued at $10,010,859,000 after purchasing an additional 36,864 shares during the period. Bank of Montreal Can lifted its position in Alphabet by 12.0% during the 1st quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock valued at $1,404,065,000 after purchasing an additional 181,085 shares during the period. Legal & General Group Plc lifted its position in Alphabet by 4.3% during the 1st quarter. Legal & General Group Plc now owns 1,359,262 shares of the information services provider’s stock valued at $1,127,590,000 after purchasing an additional 55,875 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Alphabet by 3.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 894,797 shares of the information services provider’s stock valued at $742,288,000 after purchasing an additional 32,062 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Alphabet by 12.0% during the 1st quarter. Russell Investments Group Ltd. now owns 876,999 shares of the information services provider’s stock valued at $727,645,000 after purchasing an additional 94,111 shares during the period. 34.55% of the stock is currently owned by hedge funds and other institutional investors.

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Alphabet Inc. (NASDAQ GOOG) traded down 0.52% during mid-day trading on Friday, hitting $920.29. The stock had a trading volume of 2,505,430 shares. The company’s 50 day moving average price is $925.04 and its 200 day moving average price is $907.53. The firm has a market cap of $637.65 billion, a PE ratio of 33.35 and a beta of 0.94. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $25.61 billion. During the same quarter in the previous year, the company posted $8.42 earnings per share. Alphabet’s revenue for the quarter was up 21.0% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.

GOOG has been the topic of a number of research reports. Moffett Nathanson restated a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Instinet reiterated a “buy” rating on shares of Alphabet in a research report on Friday, June 2nd. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Wells Fargo & Company reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. One 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. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,031.14.

In other Alphabet news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $911.16, for a total transaction of $166,742.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $955.25, for a total value of $3,821,000.00. Following the sale, the chief executive officer now owns 1,683 shares in the company, valued at $1,607,685.75. The disclosure for this sale can be found here. Insiders sold 46,680 shares of company stock worth $43,521,363 over the last 90 days. Company insiders own 13.92% of the company’s stock.

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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