Calamos Wealth Management LLC Has $12.41 Million Holdings in Alphabet Inc. $GOOG

Key Points

• Calamos Wealth Management LLC reduced its holdings in Alphabet Inc. by 1.8% during the second quarter, resulting in 69,970 shares valued at approximately $12.41 million.
• Notable institutional investors such as Vanguard and JPMorgan Chase have increased their stakes in Alphabet, highlighting strong interest among large investors.
• Alphabet's shares have a current market cap of $3.04 trillion and the company reported earnings of $2.31 per share, exceeding analysts' expectations.

Calamos Wealth Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,970 shares of the information services provider's stock after selling 1,316 shares during the period. Calamos Wealth Management LLC's holdings in Alphabet were worth $12,412,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its stake in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after acquiring an additional 440,526 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Barclays reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Oppenheimer set a $300.00 target price on shares of Alphabet and gave the stock an "outperform" rating in a report on Monday. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, TD Cowen increased their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $246.26.

Alphabet Stock Down 2.2%

Shares of NASDAQ GOOG opened at $251.34 on Wednesday. The company has a 50 day simple moving average of $234.23 and a 200 day simple moving average of $194.41. The firm has a market cap of $3.04 trillion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business earned $1.89 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by insiders.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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