Czech National Bank Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Czech National Bank trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 604,968 shares of the information services provider’s stock after selling 6,701 shares during the period. Alphabet comprises approximately 1.7% of Czech National Bank’s holdings, making the stock its 8th largest holding. Czech National Bank’s holdings in Alphabet were worth $73,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Moneta Group Investment Advisors LLC raised its stake in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Alphabet by 1,807.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after purchasing an additional 54,077,519 shares during the period. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at about $3,059,614,000. GQG Partners LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $2,170,024,000. Finally, Morgan Stanley raised its stake in shares of Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. 27.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOG. Wedbush started coverage on Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating on the stock. Susquehanna lifted their price target on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Robert W. Baird lifted their price target on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Finally, Oppenheimer lifted their price target on Alphabet from $145.00 to $160.00 in a report on Wednesday, July 26th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $130.94.

Alphabet Stock Up 0.5 %

Shares of NASDAQ:GOOG opened at $138.96 on Tuesday. The firm has a fifty day moving average price of $130.22 and a two-hundred day moving average price of $118.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a one year low of $83.45 and a one year high of $139.93. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.60 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. Insiders sold 96,092 shares of company stock valued at $12,221,941 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.