Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Bessemer Securities LLC

Bessemer Securities LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 42.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,555 shares of the information services provider’s stock after selling 21,750 shares during the period. Alphabet makes up about 2.4% of Bessemer Securities LLC’s holdings, making the stock its 5th largest holding. Bessemer Securities LLC’s holdings in Alphabet were worth $3,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Alphabet by 0.3% during the first quarter. BlackRock Inc. now owns 365,927,668 shares of the information services provider’s stock worth $38,056,478,000 after purchasing an additional 1,230,697 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Alphabet by 94,153.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 200,558,295 shares of the information services provider’s stock valued at $24,261,537,000 after buying an additional 200,345,509 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. Morgan Stanley raised its stake in Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Alphabet by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 71,490,715 shares of the information services provider’s stock valued at $7,435,034,000 after acquiring an additional 2,041,609 shares during the last quarter. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock traded up $0.51 during trading on Monday, reaching $137.45. The company’s stock had a trading volume of 3,612,150 shares, compared to its average volume of 25,843,408. The business has a 50 day moving average price of $134.60 and a 200-day moving average price of $128.47. Alphabet Inc. has a 12-month low of $85.57 and a 12-month high of $142.38. The company has a market capitalization of $1.72 trillion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The business had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.74 EPS for the current year.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the transaction, the director now owns 7,184 shares of the company’s stock, valued at $954,897.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,576 shares of company stock valued at $23,425,367. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Robert W. Baird raised their price objective on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Oppenheimer restated an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, October 25th. Susquehanna boosted their price objective on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Finally, Wedbush assumed coverage on shares of Alphabet in a research report on Monday, August 21st. They set an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $130.69.

Alphabet Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.