Progressive Investment Management Corp boosted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,149 shares of the information services provider’s stock after buying an additional 121 shares during the quarter. Alphabet accounts for approximately 2.3% of Progressive Investment Management Corp’s investment portfolio, making the stock its 22nd largest position. Progressive Investment Management Corp’s holdings in Alphabet were worth $3,020,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in GOOG. Perennial Advisors LLC boosted its position in shares of Alphabet by 8.7% in the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after purchasing an additional 260 shares during the period. One Capital Management LLC boosted its position in shares of Alphabet by 5.0% in the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after purchasing an additional 154 shares during the period. Northeast Investment Management boosted its position in shares of Alphabet by 4.4% in the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock valued at $11,521,000 after purchasing an additional 537 shares during the period. Taurus Asset Management LLC boosted its position in shares of Alphabet by 0.9% in the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock valued at $23,591,000 after purchasing an additional 220 shares during the period. Finally, AKO Capital LLP boosted its position in shares of Alphabet by 6.8% in the 2nd quarter. AKO Capital LLP now owns 51,624 shares of the information services provider’s stock valued at $46,912,000 after purchasing an additional 3,289 shares during the period. 34.63% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet Inc (GOOG) opened at $1,122.26 on Friday. Alphabet Inc has a one year low of $790.52 and a one year high of $1,124.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The firm has a market capitalization of $782,650.00, a PE ratio of 37.38 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $27.17 billion. During the same period last year, the business earned $9.06 EPS. The business’s quarterly revenue was up 23.7% on a year-over-year basis.
A number of equities analysts recently weighed in on the company. UBS Group reiterated a “buy” rating on shares of Alphabet in a research report on Thursday. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. SunTrust Banks increased their price target on Alphabet to $1,250.00 and gave the company a “buy” rating in a research report on Friday. Vetr lowered Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target for the company. in a research report on Wednesday. Finally, Bank of America reiterated a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,052.31.
In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $993.58, for a total transaction of $3,974,320.00. Following the transaction, the chief executive officer now owns 1,471 shares of the company’s stock, valued at approximately $1,461,556.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director L John Doerr sold 12,236 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1,021.57, for a total value of $12,499,930.52. Following the transaction, the director now directly owns 3,485 shares in the company, valued at approximately $3,560,171.45. The disclosure for this sale can be found here. Insiders have sold a total of 36,900 shares of company stock valued at $37,877,147 over the last ninety days. Company insiders own 13.92% of the company’s stock.
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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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