Trading Report: The Atalanta Sosnoff Capital LLC reached $14,221,000 position of Alphabet Inc. (GOOG)

The Atalanta Sosnoff Capital LLC reached $14,221,000 position  of Alphabet Inc. (GOOG)

Atalanta Sosnoff Capital LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 66.6% during the second quarter, Holdings Channel reports. The institutional investor owned 20,548 shares of the company’s stock after selling 41,024 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Alphabet were worth $14,221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOG. Bank of Montreal Can purchased a new position in shares of Alphabet during the second quarter valued at about $927,982,000. Jana Partners LLC purchased a new position in shares of Alphabet during the first quarter valued at about $472,266,000. Bessemer Group Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $402,406,000. Pennant Capital Management LLC purchased a new position in shares of Alphabet during the first quarter valued at about $145,638,000. Finally, Svenska Handelsbanken AB publ increased its position in shares of Alphabet by 11,203.0% in the second quarter. Svenska Handelsbanken AB publ now owns 192,603 shares of the company’s stock valued at $133,301,000 after buying an additional 190,899 shares in the last quarter. 34.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% on Friday, reaching $778.53. 852,487 shares of the company were exchanged. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28. The stock’s 50-day moving average is $774.66 and its 200 day moving average is $741.88. The firm has a market capitalization of $535.06 billion, a PE ratio of 30.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. During the same quarter last year, the firm posted $6.99 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post $34.14 EPS for the current year.

Several equities research analysts have weighed in on the stock. Deutsche Bank AG restated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday. Robert W. Baird restated an “outperform” rating and issued a $900.00 price objective on shares of Alphabet in a research report on Wednesday, October 5th. SunTrust Banks Inc. restated a “buy” rating and issued a $900.00 price objective on shares of Alphabet in a research report on Wednesday, October 5th. Needham & Company LLC set a $900.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Wednesday, October 5th. Finally, Macquarie restated an “outperform” rating and issued a $975.00 price objective on shares of Alphabet in a research report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $926.55.

In other Alphabet news, CEO Lawrence Page sold 33,340 shares of Alphabet stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $800.75, for a total transaction of $26,697,005.00. Following the completion of the transaction, the chief executive officer now owns 105,670 shares of the company’s stock, valued at approximately $84,615,252.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total value of $462,609.54. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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