Alphabet Inc (NASDAQ:GOOG) Shares Purchased by PFG Advisors

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PFG Advisors boosted its holdings in Alphabet Inc (NASDAQ:GOOG) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 493 shares of the information services provider’s stock after acquiring an additional 21 shares during the quarter. PFG Advisors’ holdings in Alphabet were worth $617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Curbstone Financial Management Corp boosted 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 worth $3,688,000 after acquiring an additional 140 shares in the last quarter. Veritas Investment Management LLP boosted its stake in shares of Alphabet by 2.8% during the 2nd quarter. Veritas Investment Management LLP now owns 34,098 shares of the information services provider’s stock worth $36,853,000 after acquiring an additional 936 shares in the last quarter. B. Riley Wealth Management Inc. boosted 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 worth $1,150,000 after acquiring an additional 81 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of Alphabet by 18.8% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 14,918 shares of the information services provider’s stock worth $16,125,000 after acquiring an additional 2,363 shares in the last quarter. Finally, Atlantic Union Bankshares Corp boosted 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 worth $756,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 34.00% of the company’s stock.

In other news, CAO Amie Thuener O’toole sold 69 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total value of $71,960.10. Following the completion of the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $404,645.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 39 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $1,100.00, for a total transaction of $42,900.00. Following the completion of the transaction, the director now directly owns 1,797 shares of the company’s stock, valued at approximately $1,976,700. The disclosure for this sale can be found here. Insiders have sold a total of 2,123 shares of company stock valued at $2,553,758 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Several analysts have recently commented on GOOG shares. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, July 13th. Wedbush raised their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 target price on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $1,378.93.

Shares of NASDAQ:GOOG traded down $8.67 during trading on Thursday, reaching $1,182.58. The stock had a trading volume of 306,652 shares, compared to its average volume of 1,721,836. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The business’s 50-day moving average price is $1,168.86 and its 200 day moving average price is $1,155.54. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. The stock has a market capitalization of $831.00 billion, a PE ratio of 24.89, a P/E/G ratio of 1.31 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the consensus estimate of $11.49 by $2.72. The company had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.75 EPS. Analysts forecast that Alphabet Inc will post 52.1 EPS for the current year.

Alphabet 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.

Further Reading: The Discount Rate – What You Need to Know

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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