Private Asset Management Inc. raised its stake in Alphabet Inc (NASDAQ:GOOG) by 3.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,476 shares of the information services provider’s stock after buying an additional 329 shares during the quarter. Alphabet makes up about 1.9% of Private Asset Management Inc.’s investment portfolio, making the stock its 19th largest holding. Private Asset Management Inc.’s holdings in Alphabet were worth $11,414,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GOOG. BKD Wealth Advisors LLC increased its position in shares of Alphabet by 13.9% during the fourth quarter. BKD Wealth Advisors LLC now owns 1,428 shares of the information services provider’s stock valued at $1,479,000 after acquiring an additional 174 shares in the last quarter. Peregrine Capital Management LLC boosted its holdings in Alphabet by 2.5% in the fourth quarter. Peregrine Capital Management LLC now owns 18,610 shares of the information services provider’s stock worth $19,273,000 after purchasing an additional 456 shares during the last quarter. Bowling Portfolio Management LLC boosted its holdings in Alphabet by 44.1% in the fourth quarter. Bowling Portfolio Management LLC now owns 2,726 shares of the information services provider’s stock worth $2,823,000 after purchasing an additional 834 shares during the last quarter. Polaris Greystone Financial Group LLC boosted its holdings in Alphabet by 4.6% in the fourth quarter. Polaris Greystone Financial Group LLC now owns 992 shares of the information services provider’s stock worth $1,027,000 after purchasing an additional 44 shares during the last quarter. Finally, Professional Advisory Services Inc. boosted its holdings in Alphabet by 5.1% in the fourth quarter. Professional Advisory Services Inc. now owns 16,879 shares of the information services provider’s stock worth $17,480,000 after purchasing an additional 826 shares during the last quarter. Institutional investors own 34.00% of the company’s stock.
Shares of Alphabet stock traded up $8.14 on Tuesday, hitting $1,146.21. 991,931 shares of the company’s stock were exchanged, compared to its average volume of 1,468,050. The firm has a 50-day moving average of $1,107.05. The company has a market capitalization of $784.56 billion, a PE ratio of 24.13, a PEG ratio of 1.33 and a beta of 0.95. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $10.51 by $1.39. The business had revenue of $36.34 billion for the quarter, compared to analysts’ expectations of $37.36 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company posted $9.93 EPS. Equities research analysts predict that Alphabet Inc will post 48.43 earnings per share for the current fiscal year.
In other news, major shareholder Capitalg Lp bought 140,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $34.00 per share, for a total transaction of $4,760,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 75 shares of Alphabet stock in a transaction on Monday, April 29th. The shares were sold at an average price of $1,280.51, for a total transaction of $96,038.25. Following the transaction, the director now owns 159 shares in the company, valued at approximately $203,601.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 403 shares of company stock worth $461,293. 12.99% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Weight Watchers International from $12.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada set a €145.00 ($168.60) target price on shares of Aena SME and gave the stock a “sell” rating in a report on Tuesday, April 30th. Wedbush restated an “outperform” rating on shares of Alphabet in a report on Thursday, April 25th. Pivotal Research assumed coverage on shares of SRC Energy in a report on Wednesday, May 29th. They issued a “buy” rating and a $37.29 target price on the stock. Finally, Cowen restated an “outperform” rating and issued a $1,420.00 target price (up previously from $1,390.00) on shares of Alphabet in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,362.38.
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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