Greenleaf Trust Sells 778 Shares of Alphabet Inc. (GOOG)

Greenleaf Trust decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,577 shares of the information services provider’s stock after selling 778 shares during the period. Alphabet comprises approximately 0.3% of Greenleaf Trust’s holdings, making the stock its 12th biggest holding. Greenleaf Trust’s holdings in Alphabet were worth $13,247,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GOOG. Cypress Asset Management Inc. TX grew its holdings in Alphabet by 8.8% during the 2nd quarter. Cypress Asset Management Inc. TX now owns 1,969 shares of the information services provider’s stock worth $1,789,000 after acquiring an additional 160 shares in the last quarter. Roof Eidam & Maycock ADV acquired a new position in Alphabet during the 2nd quarter worth $1,631,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in Alphabet by 69.8% during the 2nd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 44,205 shares of the information services provider’s stock worth $40,495,000 after acquiring an additional 18,169 shares in the last quarter. Osborne Partners Capital Management LLC grew its holdings in Alphabet by 1.6% during the 2nd quarter. Osborne Partners Capital Management LLC now owns 9,484 shares of the information services provider’s stock worth $8,618,000 after acquiring an additional 145 shares in the last quarter. Finally, Rosenbaum Jay D. grew its holdings in Alphabet by 19.4% during the 2nd quarter. Rosenbaum Jay D. now owns 585 shares of the information services provider’s stock worth $532,000 after acquiring an additional 95 shares in the last quarter. 34.55% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Inc. (NASDAQ GOOG) traded down 0.52% during trading on Friday, reaching $920.29. 2,505,430 shares of the company traded hands. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The company has a market cap of $320.01 billion, a PE ratio of 43.10 and a beta of 0.94. The company’s 50-day moving average is $925.04 and its 200 day moving average is $907.53.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. Alphabet’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $8.42 EPS. On average, analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current year.

In related news, Director L John Doerr sold 13,556 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the transaction, the director now directly owns 3,485 shares in the company, valued at approximately $3,213,692.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $955.25, for a total value of $3,821,000.00. Following the transaction, 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. Over the last three months, insiders have sold 46,680 shares of company stock worth $43,521,363. 13.92% of the stock is currently owned by insiders.

Several research firms have recently commented on GOOG. Piper Jaffray Companies reissued an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a research note on Wednesday, August 9th. Moffett Nathanson restated a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Royal Bank Of Canada restated an “outperform” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Monday, September 11th. BidaskClub downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, MKM Partners restated a “buy” rating and set a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have given a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,031.14.

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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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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