Gilman Hill Asset Management LLC Trims Holdings in Alphabet Inc Class C (GOOG)
Gilman Hill Asset Management LLC cut its stake in shares of Alphabet Inc Class C (NASDAQ:GOOG) by 11.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 681 shares of the information services provider’s stock after selling 90 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Alphabet Inc Class C were worth $760,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Smart Portfolios LLC acquired a new position in Alphabet Inc Class C in the first quarter worth $103,000. Braun Bostich & Associates Inc. bought a new stake in Alphabet Inc Class C in the first quarter valued at $107,000. Litman Gregory Asset Management LLC bought a new stake in Alphabet Inc Class C in the first quarter valued at $113,000. WealthShield LLC bought a new stake in Alphabet Inc Class C in the fourth quarter valued at $144,000. Finally, Stelac Advisory Services LLC bought a new stake in shares of Alphabet Inc Class C during the first quarter valued at about $145,000. 34.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on GOOG. Raymond James reiterated an “outperform” rating and issued a $1,405.00 price target (up from $1,240.00) on shares of Alphabet Inc Class C in a research report on Tuesday, July 24th. Oppenheimer boosted their price target on shares of Alphabet Inc Class C from $1,350.00 to $1,450.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. BidaskClub cut Alphabet Inc Class C from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Credit Suisse Group reissued a “buy” rating on shares of Alphabet Inc Class C in a research note on Monday, July 16th. Finally, Barclays reiterated a “buy” rating on shares of Alphabet Inc Class C in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $1,255.72.
Alphabet Inc Class C (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.66 by $2.09. Alphabet Inc Class C had a return on equity of 18.24% and a net margin of 13.16%. The business had revenue of $32.66 billion for the quarter, compared to analyst estimates of $32.13 billion. During the same quarter in the prior year, the firm posted $5.01 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year.
In other Alphabet Inc Class C news, VP Amie Thuener O’toole sold 73 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $1,135.82, for a total value of $82,914.86. Following the completion of the transaction, the vice president now directly owns 388 shares in the company, valued at $440,698.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 24 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $1,100.00, for a total value of $26,400.00. Following the completion of the transaction, the director now owns 1,870 shares of the company’s stock, valued at $2,057,000. The disclosure for this sale can be found here. Insiders sold 88,362 shares of company stock valued at $105,611,408 over the last 90 days. Corporate insiders own 13.11% of the company’s stock.
Alphabet Inc Class C Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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