Pensions

British Airways Pensions Investment Management Ltd Sells 2,684 Shares of Alphabet Inc. (GOOG)

British Airways Pensions Investment Management Ltd reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 5.3% during the first quarter, Holdings Channel reports. The institutional investor owned 47,834 shares of the information services provider’s stock after selling 2,684 shares during the period. Alphabet accounts for 1.2% of British Airways Pensions Investment Management Ltd’s portfolio, making the stock its 28th largest position. British Airways Pensions Investment Management Ltd’s holdings in Alphabet were worth $39,661,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Dodge & Cox bought a new position in shares of Alphabet during the fourth quarter valued at $2,387,502,000. Norges Bank bought a new position in shares of Alphabet during the fourth quarter valued at $2,128,163,000. Putnam Investments LLC boosted its position in shares of Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock valued at $844,967,000 after buying an additional 366,456 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Alphabet during the fourth quarter valued at $249,975,000. Finally, Bank of Montreal Can boosted its position in shares of Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock valued at $1,404,065,000 after buying an additional 181,085 shares during the period. 34.60% of the stock is owned by institutional investors and hedge funds.

Alphabet Inc. (NASDAQ:GOOG) opened at 941.53 on Friday. The firm’s 50 day moving average price is $944.07 and its 200-day moving average price is $881.26. The stock has a market cap of $652.37 billion, a P/E ratio of 34.12 and a beta of 0.94. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter in the previous year, the firm posted $8.42 earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post $30.74 earnings per share for the current fiscal year.

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Several brokerages have recently weighed in on GOOG. UBS AG reiterated a “buy” rating and issued a $1,050.00 price target (up from $980.00) on shares of Alphabet in a research report on Friday, April 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $970.00 price target on shares of Alphabet in a research report on Thursday. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,100.00 price target (up from $1,070.00) on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $1,100.00 price target (up from $1,050.00) on shares of Alphabet in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,017.39.

In related news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $915.16, for a total transaction of $3,660,640.00. Following the transaction, the chief executive officer now directly owns 2,205 shares in the company, valued at $2,017,927.80. The disclosure for this sale can be found here. Insiders have sold 46,793 shares of company stock valued at $43,987,234 in the last ninety days. Insiders own 13.92% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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