American National Insurance Co. Sells 35 Shares of Alphabet Inc. (NASDAQ:GOOG)

American National Insurance Co. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,960 shares of the information services provider’s stock after selling 35 shares during the period. Alphabet comprises approximately 2.2% of American National Insurance Co.’s holdings, making the stock its 4th biggest position. American National Insurance Co.’s holdings in Alphabet were worth $57,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 28.9% in the first quarter. JPMorgan Chase & Co. now owns 3,594,116 shares of the information services provider’s stock valued at $7,434,896,000 after buying an additional 804,739 shares during the period. SG Americas Securities LLC lifted its position in Alphabet by 104.8% in the 1st quarter. SG Americas Securities LLC now owns 27,220 shares of the information services provider’s stock worth $56,308,000 after buying an additional 597,326 shares in the last quarter. CIBC World Markets Inc. raised its stake in shares of Alphabet by 353.4% during the 1st quarter. CIBC World Markets Inc. now owns 626,878 shares of the information services provider’s stock worth $1,296,779,000 after purchasing an additional 488,608 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Alphabet by 168.7% in the first quarter. Canada Pension Plan Investment Board now owns 402,007 shares of the information services provider’s stock worth $831,604,000 after buying an additional 252,373 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Alphabet by 18.3% during the 1st quarter. Jennison Associates LLC now owns 1,392,266 shares of the information services provider’s stock worth $2,880,083,000 after acquiring an additional 215,663 shares in the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Several brokerages have commented on GOOG. KeyCorp increased their price target on Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Guggenheim raised their price target on Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. UBS Group reissued a “buy” rating and set a $3,190.00 price objective on shares of Alphabet in a research report on Tuesday, August 10th. Jefferies Financial Group upped their price target on Alphabet from $2,950.00 to $3,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Finally, Wolfe Research boosted their price objective on shares of Alphabet from $2,900.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $3,087.17.

In other news, major shareholder Capitalg 2014 Lp sold 356,152 shares of the stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $102.00, for a total value of $36,327,504.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 48 shares of the stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $2,496.99, for a total transaction of $119,855.52. The disclosure for this sale can be found here. Insiders have sold 464,489 shares of company stock valued at $334,390,376 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:GOOG traded down $36.79 during trading on Friday, hitting $2,850.68. 19,507 shares of the company’s stock traded hands, compared to its average volume of 1,309,767. The company has a 50-day moving average price of $2,773.34 and a 200-day moving average price of $2,473.74. Alphabet Inc. has a 52 week low of $1,406.55 and a 52 week high of $2,936.41. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth 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.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $19.89 by $7.37. The firm had revenue of $61.88 billion for 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 business’s quarterly revenue was up 61.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.13 EPS. On average, analysts predict that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

About Alphabet

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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