Autus Asset Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the second quarter, Holdings Channel reports. The fund owned 8,330 shares of the company’s stock after buying an additional 413 shares during the period. Alphabet comprises 1.3% of Autus Asset Management LLC’s holdings, making the stock its 29th largest position. Autus Asset Management LLC’s holdings in Alphabet were worth $5,765,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can bought a new position in shares of Alphabet during the second quarter worth about $927,982,000. Emerald Acquisition Ltd. bought a new position in shares of Alphabet during the second quarter worth about $481,330,000. Jana Partners LLC bought a new position in shares of Alphabet during the first quarter worth about $472,266,000. Bessemer Group Inc. bought a new position in shares of Alphabet during the first quarter worth about $402,406,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Alphabet by 136.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 864,773 shares of the company’s stock worth $603,415,000 after buying an additional 499,023 shares during the period. 34.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 1.69% during midday trading on Monday, reaching $773.62. The company had a trading volume of 971,744 shares. The firm has a market capitalization of $531.69 billion, a price-to-earnings ratio of 29.97 and a beta of 1.03. The stock has a 50-day moving average of $774.55 and a 200 day moving average of $736.60. Alphabet Inc. has a 52 week low of $589.38 and a 52 week high of $789.87.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.03 by $0.39. The company had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. Alphabet’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.99 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $34.30 earnings per share for the current year.
A number of equities analysts have recently issued reports on the company. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $827.13 price objective for the company in a research report on Tuesday, May 31st. Sanford C. Bernstein set a $950.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. JMP Securities set a $928.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. Robert W. Baird set a $900.00 price objective on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Credit Suisse Group AG restated an “outperform” rating and set a $940.00 price objective (up from $920.00) on shares of Alphabet in a research report on Friday, July 29th. Two analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $925.54.
In other Alphabet news, CEO Lawrence Page sold 33,332 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $794.76, for a total transaction of $26,490,940.32. Following the sale, the chief executive officer now directly owns 30,666 shares of the company’s stock, valued at $24,372,110.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $690.94, for a total value of $2,763,760.00. Following the sale, the chief executive officer now directly owns 3,672 shares in the company, valued at $2,537,131.68. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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