Hartford Financial Management Inc. Buys 63 Shares of Alphabet Inc (NASDAQ:GOOG)

Hartford Financial Management Inc. increased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,302 shares of the information services provider’s stock after acquiring an additional 63 shares during the quarter. Hartford Financial Management Inc.’s holdings in Alphabet were worth $1,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. First Bank & Trust raised its holdings in Alphabet by 0.8% in the second quarter. First Bank & Trust now owns 1,025 shares of the information services provider’s stock worth $1,108,000 after purchasing an additional 8 shares during the period. Central Bank & Trust Co. raised its holdings in Alphabet by 3.1% in the second quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock worth $319,000 after purchasing an additional 9 shares during the period. Telos Capital Management Inc. raised its holdings in Alphabet by 1.0% in the second quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock worth $996,000 after purchasing an additional 9 shares during the period. TD Capital Management LLC raised its holdings in Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares during the period. Finally, Meristem Family Wealth LLC raised its holdings in Alphabet by 1.5% in the fourth quarter. Meristem Family Wealth LLC now owns 690 shares of the information services provider’s stock worth $715,000 after purchasing an additional 10 shares during the period. 33.98% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. Deutsche Bank increased their target price on shares of Alphabet from $1,400.00 to $1,475.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush increased their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Bank of America reissued a “buy” rating and set a $1,450.00 price objective (up previously from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Finally, Pivotal Research assumed coverage on shares of Alphabet in a research report on Wednesday, May 29th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $1,378.93.

In related news, VP Amie Thuener O’toole sold 69 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $1,100.52, for a total value of $75,935.88. Following the completion of the transaction, the vice president now owns 388 shares of the company’s stock, valued at $427,001.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $1,238.57, for a total transaction of $92,892.75. Following the completion of the transaction, the director now directly owns 276 shares of the company’s stock, valued at approximately $341,845.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,123 shares of company stock valued at $2,553,758. 12.99% of the stock is owned by insiders.

Alphabet stock traded up $8.14 during mid-day trading on Thursday, reaching $1,172.43. The company’s stock had a trading volume of 24,357 shares, compared to its average volume of 1,719,128. The stock has a market cap of $814.54 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. Alphabet Inc has a 12 month low of $970.11 and a 12 month high of $1,289.27. The firm’s 50 day simple moving average is $1,155.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $11.75 earnings per share. As a group, analysts predict that Alphabet Inc will post 52.1 earnings per share for the current fiscal year.

About Alphabet

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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