Alphabet Inc (NASDAQ:GOOG) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in Alphabet Inc (NASDAQ:GOOG) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 339,178 shares of the information services provider’s stock after selling 77,738 shares during the quarter. Alphabet makes up approximately 0.8% of First Trust Advisors LP’s holdings, making the stock its 12th biggest holding. First Trust Advisors LP’s holdings in Alphabet were worth $413,458,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its position in shares of Alphabet by 28.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 25,948 shares of the information services provider’s stock valued at $31,631,000 after buying an additional 5,742 shares during the last quarter. Manchester Capital Management LLC grew its position in shares of Alphabet by 1.9% during the 3rd quarter. Manchester Capital Management LLC now owns 2,898 shares of the information services provider’s stock valued at $3,533,000 after buying an additional 55 shares during the last quarter. Donaldson Capital Management LLC grew its position in shares of Alphabet by 28.6% during the 3rd quarter. Donaldson Capital Management LLC now owns 737 shares of the information services provider’s stock valued at $898,000 after buying an additional 164 shares during the last quarter. James Hambro & Partners bought a new stake in shares of Alphabet during the 3rd quarter valued at about $33,464,000. Finally, Cohen Lawrence B grew its position in shares of Alphabet by 3.1% during the 3rd quarter. Cohen Lawrence B now owns 2,660 shares of the information services provider’s stock valued at $3,242,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 33.78% of the company’s stock.

In related news, SVP David C. Drummond sold 28,430 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1,266.89, for a total transaction of $36,017,682.70. Following the completion of the sale, the senior vice president now directly owns 45,806 shares of the company’s stock, valued at $58,031,163.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 54 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $1,191.53, for a total transaction of $64,342.62. Following the sale, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $462,313.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,043 shares of company stock valued at $40,364,988. Company insiders own 12.99% of the company’s stock.

GOOG has been the subject of several recent analyst reports. Wedbush upped their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Bank of America restated a “buy” rating and issued a $1,450.00 target price (up previously from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. Credit Suisse Group upped their target price on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Benchmark restated a “buy” rating and issued a $1,360.00 target price (up previously from $1,315.00) on shares of Alphabet in a research report on Friday, July 26th. Finally, Guggenheim upped their target price on shares of Alphabet from $1,425.00 to $1,525.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,460.27.

Shares of NASDAQ:GOOG traded up $2.51 during trading on Friday, reaching $1,311.37. The company had a trading volume of 1,251,209 shares, compared to its average volume of 1,446,592. The firm’s fifty day moving average is $1,240.08 and its 200 day moving average is $1,179.30. The firm has a market capitalization of $895.89 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 1.58 and a beta of 1.00. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,323.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing analysts’ consensus estimates of $12.57 by ($2.45). The company had revenue of $40.50 billion during the quarter, compared to analyst estimates of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted $13.06 earnings per share. Equities analysts predict that Alphabet Inc will post 49.05 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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