Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Mackay Shields LLC

Mackay Shields LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 32.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,911 shares of the information services provider’s stock after selling 21,617 shares during the quarter. Alphabet comprises about 1.1% of Mackay Shields LLC’s portfolio, making the stock its 12th biggest holding. Mackay Shields LLC’s holdings in Alphabet were worth $112,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Saban Cheryl acquired a new stake in Alphabet in the 2nd quarter valued at about $25,000. Laurel Wealth Planning LLC lifted its holdings in Alphabet by 450.0% in the 2nd quarter. Laurel Wealth Planning LLC now owns 11 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 9 shares during the last quarter. Corsicana & Co. purchased a new stake in Alphabet during the second quarter valued at about $50,000. Selective Wealth Management Inc. lifted its stake in Alphabet by 29.4% during the second quarter. Selective Wealth Management Inc. now owns 22 shares of the information services provider’s stock valued at $55,000 after buying an additional 5 shares in the last quarter. Finally, Running Point Capital Advisors LLC purchased a new stake in Alphabet during the second quarter valued at about $60,000. 31.55% of the stock is owned by institutional investors and hedge funds.

Alphabet stock traded up $66.13 during trading hours on Thursday, reaching $2,824.13. 30,322 shares of the company were exchanged, compared to its average volume of 1,306,943. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.85 and a beta of 1.00. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average of $2,807.00 and a 200 day moving average of $2,570.43. Alphabet Inc. has a 12 month low of $1,514.62 and a 12 month high of $2,936.41.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. The firm had revenue of $61.88 billion during the quarter, compared to analysts’ expectations of $56.08 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The company’s revenue was up 61.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.13 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 101.86 EPS for the current year.

In related news, Director Sergey Brin sold 13,889 shares of the firm’s stock in a transaction on Monday, October 11th. The stock was sold at an average price of $2,798.28, for a total value of $38,865,310.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 21st. The stock was sold at an average price of $2,614.63, for a total value of $7,843,890.00. Following the completion of the transaction, the chief executive officer now directly owns 5,182 shares of the company’s stock, valued at $13,549,012.66. The disclosure for this sale can be found here. Insiders have sold 508,728 shares of company stock valued at $459,355,508 in the last ninety days. Company insiders own 12.99% of the company’s stock.

GOOG has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Guggenheim upped their price objective on shares of Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Jefferies Financial Group upped their price objective on shares of Alphabet from $2,950.00 to $3,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Credit Suisse Group upped their target price on Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Finally, Cowen upped their target price on Alphabet from $2,900.00 to $3,300.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $3,097.60.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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