Alphabet Inc (GOOG) Position Reduced by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its stake in Alphabet Inc (NASDAQ:GOOG) by 20.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,177 shares of the information services provider’s stock after selling 3,546 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Alphabet were worth $13,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Burt Wealth Advisors lifted its position in 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 acquiring an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its stake in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 5 shares in the last quarter. Almanack Investment Partners LLC. increased its stake in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 7 shares in the last quarter. St. Johns Investment Management Company LLC increased its stake in Alphabet by 1,046.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after purchasing an additional 157 shares in the last quarter. Finally, Catamount Wealth Management increased its stake in Alphabet by 5.8% during the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after purchasing an additional 10 shares in the last quarter. 34.65% of the stock is owned by institutional investors.

Alphabet Inc (GOOG) opened at $1,123.27 on Wednesday. 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 $783,540.00, a price-to-earnings ratio of 37.42 and a beta of 0.94. Alphabet Inc has a 12 month low of $790.52 and a 12 month high of $1,139.91.

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

In other Alphabet news, Director L John Doerr sold 12,236 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the transaction, the director now directly owns 3,485 shares in the company, valued at approximately $3,560,171.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated 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. Over the last ninety days, insiders have sold 32,900 shares of company stock worth $33,902,827. Corporate insiders own 13.92% of the company’s stock.

A number of research firms have recently weighed in on GOOG. SunTrust Banks increased their price objective on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray Companies raised their price target on shares of Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research 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 shares of Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,052.31.

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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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