Guinness Atkinson Asset Management Inc. sells 50 shares of Alphabet Inc. (NASDAQ:GOOGL)
Guinness Atkinson Asset Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.9% during the first quarter, reports Holdings Channel.com. The fund held 2,554 shares of the information services provider after selling 50 shares during the period. Alphabet represents 3.4% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 11th largest position. Guinness Atkinson Asset Management Inc’s holdings of Alphabet were worth $7,104,000 when it last filed with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Boltwood Capital Management increased its position in Alphabet shares by 0.3% during the fourth quarter. Boltwood Capital Management now owns 1,333 shares of the information services provider worth $3,862,000 after acquiring 4 more shares last quarter. Latitude Advisors LLC increased its stake in Alphabet shares by 0.4% in the fourth quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider worth $3,210,000 after purchasing 4 additional shares during the period. Brave Asset Management Inc. increased its holdings of Alphabet shares 0.6% in the fourth quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider worth $1,819,000 after purchasing 4 additional shares during the period. Smithbridge Asset Management Inc. DE increased its stake in Alphabet shares by 1.5% in the fourth quarter. Smithbridge Asset Management Inc. DE now owns 263 shares of the information services provider worth $762,000 after purchasing 4 additional shares during the period. Finally, Affinity Capital Advisors LLC increased its stake in Alphabet shares by 1.3% in the fourth quarter. Affinity Capital Advisors LLC now owns 310 shares of the information services provider worth $898,000 after buying 4 additional shares during the period. Hedge funds and other institutional investors own 41.70% of the company’s shares.
Shares of NASDAQ GOOGL opened at $2,359.50 on Friday. Alphabet Inc. has a fifty-two week low of $2,037.69 and a fifty-two week high of $3,030.93. The company has a 50-day simple moving average of $2,291.15 and a two-hundred-day simple moving average of $2,587.43. The company has a market capitalization of $1.55 trillion, a price/earnings ratio of 21.34, a P/E/G ratio of 1.10 and a beta of 1.13. The company has a debt ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87.
Alphabet shares are set to split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be distributed to shareholders after market close on Friday July 15.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its results on Tuesday, April 26. The information services provider reported earnings per share of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). The company posted revenue of $56.02 billion for the quarter, versus a consensus estimate of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period a year earlier, the company posted EPS of $26.29. On average, analysts expect Alphabet Inc. to post earnings per share of 110.83 for the current fiscal year.
Separately, director Ann Mather sold 21 shares of the company in a trade that took place on Wednesday, May 25. The shares were sold at an average price of $2,102.84, for a total transaction of $44,159.64. Following the completion of the sale, the director now owns 565 shares of the company, valued at $1,188,104.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, 2016 major shareholder Gp LLC Gv sold 544,249 shares of Alphabet in a transaction that took place on Monday, April 11. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure of this sale can be found here. Insiders have sold 550,357 shares of the company valued at $21,855,978 in the past three months. 11.44% of the shares are held by insiders.
A number of search firms have recently commented on GOOGL. Canaccord Genuity Group reduced its target price on Alphabet from $3,500.00 to $3,300.00 and placed a “buy” rating on the stock in a Wednesday, April 27 research note. MKM Partners cut its price target on Alphabet shares from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a Thursday, April 14 research report. Guggenheim reduced its price target on Alphabet shares from $3,350.00 to $3,000.00 in a Wednesday, April 27 research report. Wells Fargo & Company cut its price target on Alphabet shares from $3,600.00 to $3,400.00 in a Wednesday, April 27 research report. Finally, Morgan Stanley cut its price target on Alphabet shares from $3,270.00 to $3,000.00 in a Wednesday, June 1 research report. One research analyst gave the stock a hold rating, thirty-four gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target of $3,297.86.
About the alphabet (Get a rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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.
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