The Trinity Street Asset Management LLP reduces its investment in Alphabet Inc. (GOOG)

The Trinity Street Asset Management LLP reduces its investment in Alphabet Inc. (GOOG)

Trinity Street Asset Management LLP lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.4% during the second quarter, Holdings Channel reports. The fund owned 46,598 shares of the company’s stock after selling 6,605 shares during the period. Alphabet makes up 7.5% of Trinity Street Asset Management LLP’s portfolio, making the stock its 8th largest position. Trinity Street Asset Management LLP’s holdings in Alphabet were worth $32,250,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of GOOG. D. Scott Neal Inc. raised its position in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the last quarter. Cacti Asset Management LLC purchased a new position in shares of Alphabet during the second quarter valued at about $159,000. Stewart & Patten Co. LLC raised its position in shares of Alphabet by 1.3% in the second quarter. Stewart & Patten Co. LLC now owns 323 shares of the company’s stock valued at $224,000 after buying an additional 4 shares during the last quarter. Clarkston Capital Partners LLC raised its position in shares of Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock valued at $229,000 after buying an additional 43 shares during the last quarter. Finally, Kanaly Trust Co raised its position in shares of Alphabet by 3.0% in the second quarter. Kanaly Trust Co now owns 340 shares of the company’s stock valued at $235,000 after buying an additional 10 shares during the last quarter. 34.39% of the stock is currently owned by institutional investors.

Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% on Friday, reaching $778.53. 852,487 shares of the company’s stock traded hands. The firm’s 50-day moving average is $774.66 and its 200 day moving average is $741.88. Alphabet Inc. has a 52-week low of $641.73 and a 52-week high of $792.28. The stock has a market capitalization of $535.06 billion, a PE ratio of 30.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same period last year, the business posted $6.99 EPS. Alphabet’s revenue was up 21.3% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post $34.14 EPS for the current year.

Several brokerages have issued reports on GOOG. Citigroup Inc. reaffirmed a “buy” rating and set a $900.00 price objective on shares of Alphabet in a report on Saturday, June 18th. Stifel Nicolaus reissued a “buy” rating and set a $925.00 price target (up previously from $888.00) on shares of Alphabet in a report on Friday, July 29th. Longbow Research assumed coverage on Alphabet in a report on Wednesday, July 6th. They set a “buy” rating on the stock. Macquarie reissued an “outperform” rating and set a $975.00 price target on shares of Alphabet in a report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 price target on Alphabet and gave the stock a “buy” rating in a report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $926.55.

In other Alphabet news, CEO Lawrence Page sold 33,340 shares of the firm’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $800.75, for a total value of $26,697,005.00. Following the sale, the chief executive officer now directly owns 105,670 shares in the company, valued at approximately $84,615,252.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $781.81, for a total transaction of $3,127,240.00. Following the completion of the sale, the chief executive officer now owns 3,231 shares in the company, valued at $2,526,028.11. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.

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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