Zurich Insurance Group Ltd FI raised its stake in Alphabet Inc (NASDAQ:GOOG) by 4.1% in the second quarter, HoldingsChannel reports. The fund owned 33,231 shares of the information services provider’s stock after purchasing an additional 1,318 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Alphabet were worth $35,920,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in GOOG. Alberta Investment Management Corp raised its stake in Alphabet by 39.7% in the 2nd quarter. Alberta Investment Management Corp now owns 48,200 shares of the information services provider’s stock valued at $52,100,000 after purchasing an additional 13,700 shares during the last quarter. Apriem Advisors acquired a new position in Alphabet in the 2nd quarter valued at $378,000. Aldebaran Financial Inc. raised its stake in Alphabet by 8.6% in the 2nd quarter. Aldebaran Financial Inc. now owns 1,897 shares of the information services provider’s stock valued at $2,050,000 after purchasing an additional 150 shares during the last quarter. Paloma Partners Management Co acquired a new position in Alphabet in the 2nd quarter valued at $310,000. Finally, Eminence Capital LP raised its stake in Alphabet by 6.2% in the 2nd quarter. Eminence Capital LP now owns 196,528 shares of the information services provider’s stock valued at $212,429,000 after purchasing an additional 11,439 shares during the last quarter. 33.79% of the stock is owned by institutional investors.
In related news, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $1,200.00, for a total transaction of $90,000.00. Following the completion of the transaction, the director now directly owns 310 shares in the company, valued at approximately $372,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David C. Drummond sold 1,600 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total value of $1,944,624.00. Following the transaction, the senior vice president now owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,744 shares of company stock valued at $4,480,345. Company insiders own 12.99% of the company’s stock.
Several research analysts recently commented on the company. Pivotal Research assumed coverage on Alphabet in a research note on Wednesday, May 29th. They issued a “hold” rating for the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Benchmark reissued a “buy” rating and issued a $1,360.00 price objective (up from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price objective for the company in a research note on Wednesday, July 31st. Finally, Oppenheimer increased 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. Three equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $1,378.93.
Shares of NASDAQ GOOG traded down $7.26 during mid-day trading on Friday, reaching $1,231.46. 835,167 shares of the company’s stock were exchanged, compared to its average volume of 1,140,491. The firm has a market capitalization of $852.29 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.44 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27. The company’s 50-day moving average is $1,192.80 and its 200-day moving average is $1,167.33.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $38.94 billion during 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 was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted $11.75 EPS. As a group, equities analysts predict that Alphabet Inc will post 51.48 earnings per share for the current fiscal year.
Alphabet Company Profile
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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