Trade Report: The Nationwide Fund Advisors cuts position of Alphabet Inc. (GOOG)

The Nationwide Fund Advisors cuts position of Alphabet Inc. (GOOG)

Nationwide Fund Advisors lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,856 shares of the company’s stock after selling 3,777 shares during the period. Alphabet accounts for about 0.5% of Nationwide Fund Advisors’ holdings, making the stock its 24th largest position. Nationwide Fund Advisors’ holdings in Alphabet were worth $114,097,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Alphabet during the second quarter valued at about $121,000. Whitnell & Co. raised its position in shares of Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares during the last quarter. 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. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Alphabet during the second quarter valued at about $210,000. 34.39% of the stock is currently owned by institutional investors.

Alphabet Inc. (NASDAQ:GOOG) traded up 0.41% during midday trading on Wednesday, hitting $779.60. 423,522 shares of the stock were exchanged. The company has a 50 day moving average price of $773.32 and a 200 day moving average price of $739.53. The firm has a market capitalization of $535.80 billion, a price-to-earnings ratio of 30.21 and a beta of 1.03. Alphabet Inc. has a one year low of $625.56 and a one year high of $789.87.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.03 by $0.39. The firm earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.99 EPS. Equities analysts anticipate that Alphabet Inc. will post $34.30 EPS for the current year.

GOOG has been the subject of several recent research reports. Sanford C. Bernstein set a $950.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, July 29th. JMP Securities set a $928.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. Robert W. Baird set a $900.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $940.00 target price (up from $920.00) on shares of Alphabet in a report on Friday, July 29th. Finally, Atlantic Securities set a $910.00 target price on shares of Alphabet and gave the company a “buy” rating in a report on Friday, July 29th. One investment 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $926.55.

In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $739.21, for a total value of $2,956,840.00. Following the transaction, the chief executive officer now owns 3,297 shares of the company’s stock, valued at approximately $2,437,175.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sergey Brin sold 66,664 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $785.10, for a total transaction of $52,337,906.40. Following the completion of the transaction, the insider now directly owns 28,200 shares in the company, valued at approximately $22,139,820. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by company insiders.

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