Todays Report: Today, Exxonmobil Investment Management Inc. TX cuts its investment of stake in Alphabet Inc. (GOOG)

Today, Exxonmobil Investment Management Inc. TX cuts its investment of stake in Alphabet Inc. (GOOG)

Exxonmobil Investment Management Inc. TX reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the third quarter, Holdings Channel reports. The fund owned 75,452 shares of the company’s stock after selling 1,002 shares during the period. Alphabet makes up approximately 1.2% of Exxonmobil Investment Management Inc. TX’s portfolio, making the stock its 13th largest position. Exxonmobil Investment Management Inc. TX’s holdings in Alphabet were worth $58,648,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GOOG. Mesirow Financial Investment Management Equity Management bought a new position in shares of Alphabet during the second quarter valued at approximately $121,000. Whitnell & Co. boosted 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. boosted 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. Pathstone Family Office LLC boosted its position in shares of Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock valued at $154,000 after buying an additional 15 shares during the last quarter. Finally, Cacti Asset Management LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $159,000. 34.27% of the stock is owned by institutional investors.

Alphabet Inc. (NASDAQ:GOOG) traded up 1.4619% during trading on Monday, reaching $772.8149. 1,345,082 shares of the company’s stock were exchanged. Alphabet Inc. has a 52-week low of $663.06 and a 52-week high of $816.68. The stock’s 50 day moving average price is $778.79 and its 200 day moving average price is $751.79. The firm has a market cap of $532.65 billion, a P/E ratio of 28.2854 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.62 by $0.44. Alphabet had a net margin of 22.29% and a return on equity of 15.08%. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $13.17 billion. During the same quarter last year, the company posted $7.35 earnings per share. Alphabet’s revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post $34.42 EPS for the current fiscal year.

Several research firms recently weighed in on GOOG. Mizuho reiterated a “buy” rating and set a $1,025.00 price objective (up previously from $1,020.00) on shares of Alphabet in a research note on Friday, October 28th. Needham & Company LLC reiterated a “buy” rating and set a $925.00 price objective (up previously from $900.00) on shares of Alphabet in a research note on Friday, October 28th. Canaccord Genuity reiterated a “buy” rating and set a $900.00 price objective on shares of Alphabet in a research note on Monday, October 24th. reiterated a “buy” rating on shares of Alphabet in a research note on Friday, September 23rd. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $1,050.00 price objective (down previously from $1,100.00) on shares of Alphabet in a research note on Sunday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and forty-four have assigned a buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average price target of $940.42.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $756.63, for a total value of $3,026,520.00. Following the sale, the chief executive officer now owns 42,779 shares in the company, valued at $32,367,874.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sergey Brin sold 33,332 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $748.75, for a total transaction of $24,957,335.00. Following the completion of the sale, the insider now owns 16,666 shares in the company, valued at approximately $12,478,667.50. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by company insiders.

Alphabet Company Profile

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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