Washington Capital Management Inc. grew its stake in Alphabet Inc (NASDAQ:GOOG) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,076 shares of the information services provider’s stock after purchasing an additional 108 shares during the quarter. Alphabet makes up approximately 2.6% of Washington Capital Management Inc.’s holdings, making the stock its 5th biggest holding. Washington Capital Management Inc.’s holdings in Alphabet were worth $2,244,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. 1 North Wealth Services LLC acquired a new stake in Alphabet during the fourth quarter worth about $34,000. TD Capital Management LLC increased its stake in shares of Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 10 shares during the period. Truehand Inc acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. HMS Capital Management LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $38,000. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Alphabet by 102,010.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56,169,241 shares during the period. Institutional investors and hedge funds own 34.00% of the company’s stock.
Several brokerages have commented on GOOG. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price target on the stock. in a research note on Tuesday, April 30th. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Barclays restated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Pivotal Research began coverage on shares of Alphabet in a research note on Wednesday, May 29th. They issued a “hold” rating on the stock. Finally, Deutsche Bank raised their price target on shares of Alphabet from $1,400.00 to $1,475.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,378.93.
In related news, CAO Amie Thuener O’toole sold 69 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total transaction of $71,960.10. Following the completion of the sale, the chief accounting officer now directly owns 388 shares in the company, valued at $404,645.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Drummond sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $1,215.39, for a total transaction of $1,944,624.00. Following the sale, 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. Insiders have sold 2,123 shares of company stock valued at $2,553,758 over the last 90 days. 12.99% of the stock is currently owned by insiders.
Shares of Alphabet stock traded down $38.24 on Friday, hitting $1,151.29. The company had a trading volume of 1,406,965 shares, compared to its average volume of 1,607,384. The company has a market cap of $824.82 billion, a PE ratio of 24.23, a PEG ratio of 1.30 and a beta of 0.96. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. 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 has a 50-day simple moving average of $1,170.92 and a 200-day simple moving average of $1,156.17.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. The firm 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 firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $11.75 earnings per share. On average, equities research analysts predict that Alphabet Inc will post 52.1 earnings per share for the current fiscal year.
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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