Vulcan Value Partners LLC Lowers Position in Alphabet Inc (GOOG)

Vulcan Value Partners LLC reduced its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 479,172 shares of the information services provider’s stock after selling 8,251 shares during the period. Alphabet accounts for about 4.1% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 7th largest holding. Vulcan Value Partners LLC owned about 0.07% of Alphabet worth $534,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HC Financial Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at about $1,156,000. Peapack Gladstone Financial Corp raised its holdings in shares of Alphabet by 3.2% during the 1st quarter. Peapack Gladstone Financial Corp now owns 2,970 shares of the information services provider’s stock valued at $3,064,000 after buying an additional 93 shares during the period. SVA Plumb Wealth Management LLC raised its holdings in shares of Alphabet by 3.3% during the 1st quarter. SVA Plumb Wealth Management LLC now owns 5,239 shares of the information services provider’s stock valued at $5,025,000 after buying an additional 165 shares during the period. Hanson & Doremus Investment Management raised its holdings in shares of Alphabet by 26.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 2,309 shares of the information services provider’s stock valued at $2,382,000 after buying an additional 483 shares during the period. Finally, Spinnaker Trust grew its stake in Alphabet by 9.1% during the 1st quarter. Spinnaker Trust now owns 5,232 shares of the information services provider’s stock valued at $5,397,000 after purchasing an additional 436 shares in the last quarter. 34.04% of the stock is owned by institutional investors.

GOOG has been the subject of a number of recent analyst reports. Goldman Sachs Group restated a “$1,186.96” rating on shares of Alphabet in a research note on Thursday, July 19th. MED raised their price objective on Alphabet to $1,350.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Macquarie restated a “$1,205.50” rating on shares of Alphabet in a research note on Monday, July 23rd. Credit Suisse Group restated a “$1,205.50” rating on shares of Alphabet in a research note on Monday, July 23rd. Finally, UBS Group restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,301.81.



Shares of GOOG opened at $1,064.71 on Friday. The company has a market capitalization of $720.96 billion, a PE ratio of 23.31 and a beta of 1.16. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 52 week low of $980.64 and a 52 week high of $1,273.89.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the consensus estimate of $10.41 by $2.65. The company had revenue of $27.16 billion during the quarter. Alphabet had a return on equity of 19.40% and a net margin of 14.45%.

In other news, SVP David C. Drummond sold 5,690 shares of Alphabet stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $1,065.50, for a total value of $6,062,695.00. Following the completion of the transaction, the senior vice president now owns 42,558 shares in the company, valued at approximately $45,345,549. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 24 shares of Alphabet stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $1,206.20, for a total value of $28,948.80. Following the completion of the transaction, the director now owns 1,898 shares of the company’s stock, valued at approximately $2,289,367.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,359 shares of company stock valued at $76,841,496. Insiders own 13.11% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Vulcan Value Partners LLC Lowers Position in Alphabet Inc (GOOG)” was originally posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://dakotafinancialnews.com/2018/11/16/vulcan-value-partners-llc-lowers-position-in-alphabet-inc-goog.html.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Featured Article: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply