Advisory Services Network LLC lifted its position in Alphabet Inc (NASDAQ:GOOG) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,784 shares of the information services provider’s stock after acquiring an additional 221 shares during the quarter. Advisory Services Network LLC’s holdings in Alphabet were worth $2,530,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Afam Capital Inc. acquired a new position in Alphabet during the 2nd quarter valued at approximately $355,000. North Star Asset Management Inc. boosted its position in Alphabet by 0.9% during the 2nd quarter. North Star Asset Management Inc. now owns 10,967 shares of the information services provider’s stock valued at $9,966,000 after purchasing an additional 101 shares during the period. Gofen & Glossberg LLC IL boosted its position in Alphabet by 1.0% during the 2nd quarter. Gofen & Glossberg LLC IL now owns 44,342 shares of the information services provider’s stock valued at $40,295,000 after purchasing an additional 443 shares during the period. Public Employees Retirement System of Ohio boosted its position in Alphabet by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 209,024 shares of the information services provider’s stock valued at $189,946,000 after purchasing an additional 4,059 shares during the period. Finally, Amussen Hunsaker & Associates LLC acquired a new position in Alphabet during the 2nd quarter valued at approximately $1,404,000. Institutional investors own 34.74% of the company’s stock.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $958.40, for a total transaction of $3,833,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 38 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total value of $36,451.88. Following the sale, the director now directly owns 1,797 shares in the company, valued at $1,723,790.22. The disclosure for this sale can be found here. Insiders have sold 36,900 shares of company stock worth $36,837,100 over the last ninety days. 13.92% of the stock is owned by insiders.
Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,040.61 on Thursday. Alphabet Inc has a 12 month low of $770.41 and a 12 month high of $1,062.38. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $725,880.00, a price-to-earnings ratio of 34.85 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Zacks’ consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.06 EPS.
A number of research firms recently issued reports on GOOG. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,080.50 price objective for the company. in a research report on Monday, November 27th. UBS restated a “buy” rating on shares of Alphabet in a research report on Monday, November 27th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,150.00 target price on shares of Alphabet in a research note on Thursday, October 19th. Finally, Pivotal Research lifted their target price on Alphabet from $940.00 to $970.00 and gave the company a “hold” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-eight have given a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,047.45.
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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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