Alphabet Inc (NASDAQ:GOOG) Shares Bought by Watch Point Trust Co

Watch Point Trust Co raised its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 18.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,481 shares of the information services provider’s stock after acquiring an additional 393 shares during the period. Watch Point Trust Co’s holdings in Alphabet were worth $2,682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Curbstone Financial Management Corp lifted its stake in shares of Alphabet by 4.3% in 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 purchasing an additional 140 shares during the period. B. Riley Wealth Management Inc. lifted its stake in shares of Alphabet by 9.0% in 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 purchasing an additional 81 shares during the period. First National Bank of Hutchinson lifted its stake in shares of Alphabet by 3.7% in 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 purchasing an additional 44 shares during the period. Coronation Fund Managers Ltd. lifted its stake in shares of Alphabet by 18.8% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 14,918 shares of the information services provider’s stock valued at $16,125,000 after purchasing an additional 2,363 shares during the period. Finally, Atlantic Union Bankshares Corp lifted its stake in shares of Alphabet by 4.2% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 699 shares of the information services provider’s stock valued at $756,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 33.98% of the company’s stock.

In other news, VP Amie Thuener O’toole sold 55 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total transaction of $66,040.70. Following the completion of the sale, the vice president now owns 388 shares of the company’s stock, valued at $465,887.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 150 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total transaction of $183,750.00. Following the sale, the director now directly owns 276 shares of the company’s stock, valued at approximately $338,100. The disclosure for this sale can be found here. Insiders have sold 2,123 shares of company stock valued at $2,553,758 in the last ninety days. Insiders own 12.99% of the company’s stock.

Several equities analysts recently issued reports on GOOG shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Benchmark reiterated a “buy” rating and issued a $1,360.00 target price (up from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Finally, Bank of America reissued a “buy” rating and issued a $1,450.00 price target (up previously from $1,350.00) on shares of Alphabet in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $1,378.93.

Shares of Alphabet stock traded up $5.31 during trading hours on Thursday, reaching $1,169.60. 550,075 shares of the company’s stock were exchanged, compared to its average volume of 1,719,128. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The stock has a market capitalization of $814.54 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.29 and a beta of 0.96. The firm has a fifty day moving average price of $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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. During the same quarter in the prior year, the firm earned $11.75 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc will post 52.1 EPS 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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