Alphabet Inc. (GOOGL) is Seatown Holdings Pte. Ltd.'s 7th Largest Position

Mobile Shoppers Can Now ‘Pay With Google

Google parent Alphabet Inc.'s third-quarter profit grew 33%, extending strong growth in the tech giant's advertising business as increased scale helped it overcome pressure from declining ad rates. The stock now has a consensus rating of Buy and a consensus target price of $926.27. Over the last quarter, insiders sold 40,694 shares of company stock worth $38,136,904.

A corporate reorganization started two years ago created Alphabet, which has holdings including cash-engine Google and ventures devoted to innovative "moon shots" such as Waymo self-driving vehicle unit and a Loon project for delivering internet service from high-altitude balloons. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by ($3.24). Following the transaction, the director now directly owns 3,485 shares of the company's stock, valued at approximately $3,213,692.75. Alphabet Class A shares rose 2.9% to $1,020.50 after hours. Societe Generale set a $1,210.00 target price on Alphabet and gave the company a "buy" rating in a report on Friday, July 7th. Carret Asset Management LLC now owns 9,982 shares of the information services provider's stock worth $8,281,000 after buying an additional 145 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Alphabet during the second quarter worth $400,022,000. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. Ledyard National Bank now owns 5,895 shares of the information services provider's stock worth $4,998,000 after purchasing an additional 606 shares during the last quarter.

Shares of Alphabet Inc.

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Heading into the earnings release, covering analysts have a consensus target price of $1053.50 on Alphabet Inc. shares. If you are accessing this story on another site, it was illegally copied and republished in violation of global copyright law.

Aggregate cost-per-click, which is how much advertisers pay for user clicks on links, declined 18%. Google segment revenues rose to $27.5 billion from $22.3 billion a year ago.

Operating loss for Other Bets, which includes other Alphabet companies like X, Nest, and Waymo, was $812 million.

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