Argent Capital Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 57,485 shares of the company’s stock after selling 1,255 shares during the period. Alphabet comprises 1.8% of Argent Capital Management LLC’s holdings, making the stock its 24th largest position. Argent Capital Management LLC’s holdings in Alphabet were worth $39,785,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Alphabet during the second quarter valued at $121,000. D. Scott Neal Inc. boosted its position in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the last quarter. Cacti Asset Management LLC purchased a new position in shares of Alphabet during the second quarter valued at $159,000. Wedge Capital Management L L P NC purchased a new position in shares of Alphabet during the second quarter valued at $210,000. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Alphabet during the second quarter valued at $215,000. 34.39% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOG) traded up 1.25% during mid-day trading on Tuesday, hitting $783.92. The company had a trading volume of 732,398 shares. Alphabet Inc. has a one year low of $590.22 and a one year high of $789.87. The company’s 50 day moving average price is $774.33 and its 200-day moving average price is $737.58. The company has a market cap of $538.77 billion, a PE ratio of 30.37 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. During the same quarter in the previous year, the firm posted $6.99 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post $34.30 EPS for the current fiscal year.
Several brokerages have recently weighed in on GOOG. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $827.13 price target on the stock in a research report on Tuesday, May 31st. Sanford C. Bernstein set a $950.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. JMP Securities set a $928.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. Robert W. Baird set a $900.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $940.00 price target (up previously from $920.00) on shares of Alphabet in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $925.54.
In other news, insider Sergey Brin sold 33,332 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $789.56, for a total value of $26,317,613.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP James Grier Campbell sold 603 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $767.18, for a total value of $462,609.54. The disclosure for this sale can be found here. Corporate 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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