Pensionfund Sabic Has $6.42 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Pensionfund Sabic cut its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 23.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,300 shares of the information services provider’s stock after selling 700 shares during the period. Alphabet accounts for 1.6% of Pensionfund Sabic’s investment portfolio, making the stock its 5th biggest position. Pensionfund Sabic’s holdings in Alphabet were worth $6,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New World Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $724,000. EagleClaw Capital Managment LLC raised its position in shares of Alphabet by 3.5% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 2,946 shares of the information services provider’s stock valued at $7,853,000 after buying an additional 99 shares in the last quarter. Legacy Wealth Planning LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $205,000. Tudor Investment Corp Et Al purchased a new stake in shares of Alphabet during the 3rd quarter valued at $10,747,000. Finally, MFA Wealth Advisors LLC purchased a new position in Alphabet in the 3rd quarter worth $152,000. 31.20% of the stock is owned by institutional investors.

NASDAQ GOOG opened at $2,240.68 on Thursday. The company has a market capitalization of $1.48 trillion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The business’s fifty day moving average is $2,308.00 and its 200 day moving average is $2,604.33. Alphabet Inc. has a fifty-two week low of $2,044.16 and a fifty-two week high of $3,042.00.

Alphabet’s stock is set to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be distributed to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The business had revenue of $56.02 billion during the quarter, compared to analysts’ expectations of $56.17 billion. During the same quarter in the previous year, the firm earned $26.29 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 111.86 EPS for the current year.

In other news, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $2,800.20, for a total value of $117,608.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 1,276 shares of Alphabet stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $2,816.49, for a total value of $3,593,841.24. Following the completion of the sale, the senior vice president now directly owns 14,034 shares in the company, valued at $39,526,620.66. The disclosure for this sale can be found here. Insiders sold 551,675 shares of company stock worth $25,567,428 over the last 90 days. Company insiders own 12.99% of the company’s stock.

A number of brokerages recently commented on GOOG. Tigress Financial lifted their target price on shares of Alphabet from $3,540.00 to $3,670.00 in a research report on Friday, March 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Alphabet from $3,150.00 to $2,900.00 in a research note on Wednesday, April 27th. Raymond James cut their target price on shares of Alphabet from $3,630.00 to $3,180.00 in a research note on Wednesday, April 27th. Canaccord Genuity Group cut their target price on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research note on Wednesday, April 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of Alphabet from $3,450.00 to $3,200.00 in a research note on Wednesday, April 27th. Twenty-nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $3,315.38.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Featured Stories

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Want More Great Investing Ideas?

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.