Tdam USA Inc. increased its holdings in Alphabet Inc (NASDAQ:GOOG) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 18,382 shares of the information services provider’s stock after buying an additional 238 shares during the quarter. Alphabet comprises approximately 1.4% of Tdam USA Inc.’s portfolio, making the stock its 15th biggest position. Tdam USA Inc.’s holdings in Alphabet were worth $19,869,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Curbstone Financial Management Corp grew its stake in shares of Alphabet by 4.3% during the 2nd quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock valued at $3,688,000 after acquiring an additional 140 shares during the period. B. Riley Wealth Management Inc. grew its stake in shares of Alphabet by 9.0% during the 1st quarter. B. Riley Wealth Management Inc. now owns 980 shares of the information services provider’s stock valued at $1,150,000 after acquiring an additional 81 shares during the period. First National Bank of Hutchinson grew its stake in shares of Alphabet by 3.7% during the 4th quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock valued at $1,276,000 after acquiring an additional 44 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of Alphabet by 4.2% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 699 shares of the information services provider’s stock valued at $756,000 after acquiring an additional 28 shares during the period. Finally, Cornerstone Advisors Inc. grew its stake in shares of Alphabet by 3.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the information services provider’s stock valued at $1,893,000 after acquiring an additional 61 shares during the period. Institutional investors own 33.98% of the company’s stock.
A number of brokerages recently issued reports on GOOG. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Oppenheimer boosted their price objective on Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a report on Tuesday, August 6th. Cowen boosted their price target on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price target on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $1,373.93.
In other news, Director Ann Mather sold 27 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $1,213.14, for a total transaction of $32,754.78. Following the sale, the director now directly owns 1,803 shares of the company’s stock, valued at approximately $2,187,291.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $1,042.90, for a total value of $71,960.10. Following the sale, the chief accounting officer now directly owns 388 shares in the company, valued at $404,645.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,123 shares of company stock worth $2,553,758 over the last ninety days. Insiders own 12.99% of the company’s stock.
NASDAQ GOOG traded down $33.01 during trading hours on Wednesday, reaching $1,164.26. The company’s stock had a trading volume of 40,687 shares, compared to its average volume of 1,506,290. The business’s 50-day moving average is $1,153.65. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The stock has a market cap of $823.76 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $11.75 EPS. Sell-side analysts anticipate that Alphabet Inc will post 52.1 EPS for the current fiscal year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
Further Reading: Does a trade war provide a risk to the global economy?
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (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.