Whitnell & Co. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.6% during the second quarter, Holdings Channel reports. The institutional investor owned 187 shares of the company’s stock after buying an additional 32 shares during the period. Whitnell & Co.’s holdings in Alphabet were worth $129,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Equity Management bought a new position in shares of Alphabet during the second quarter worth about $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 worth $145,000 after buying an additional 200 shares during the period. Cacti Asset Management LLC bought a new position in shares of Alphabet during the second quarter worth about $159,000. Wedge Capital Management L L P NC bought a new position in shares of Alphabet during the second quarter worth about $210,000. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Alphabet during the second quarter worth about $215,000. 34.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.47% during mid-day trading on Friday, reaching $778.68. 632,487 shares of the company’s stock traded hands. The company’s 50-day moving average price is $774.01 and its 200-day moving average price is $738.56. The stock has a market capitalization of $535.17 billion, a PE ratio of 30.17 and a beta of 1.03. Alphabet Inc. has a 12-month low of $603.13 and a 12-month high of $789.87.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. The firm had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.99 EPS. Analysts anticipate that Alphabet Inc. will post $34.30 earnings per share for the current year.
GOOG has been the topic of a number of recent research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $860.00 price objective on shares of Alphabet in a research note on Friday, June 3rd. Morgan Stanley reiterated an “overweight” rating and set a $865.00 target price (up from $850.00) on shares of Alphabet in a report on Wednesday, June 8th. Maxim Group reiterated an “overweight” rating and set a $850.00 target price (down from $865.00) on shares of Alphabet in a report on Wednesday, June 8th. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $803.69 target price for the company. in a report on Monday, June 13th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $900.00 target price on shares of Alphabet in a report on Saturday, June 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $923.68.
In other Alphabet news, insider Sergey Brin sold 33,332 shares of the firm’s stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $796.59, for a total transaction of $26,551,937.88. Following the transaction, the insider now directly owns 16,666 shares of the company’s stock, valued at approximately $13,275,968.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lawrence Page sold 33,340 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $800.75, for a total transaction of $26,697,005.00. Following the transaction, the chief executive officer now directly owns 105,670 shares in the company, valued at $84,615,252.50. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
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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