Neuberger Berman Group LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 33.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 797,770 shares of the company’s stock after buying an additional 198,097 shares during the period. Alphabet comprises 0.8% of Neuberger Berman Group LLC’s holdings, making the stock its 10th largest position. Neuberger Berman Group LLC owned approximately 0.12% of Alphabet worth $552,136,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in GOOG. D. Scott Neal Inc. raised its stake 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 acquired a new stake in shares of Alphabet during the second quarter valued at approximately $159,000. Wedge Capital Management L L P NC acquired a new stake in shares of Alphabet during the second quarter valued at approximately $210,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Alphabet during the second quarter valued at approximately $215,000. Finally, Evermay Wealth Management LLC raised its stake in shares of Alphabet by 2.3% in the second quarter. Evermay Wealth Management LLC now owns 313 shares of the company’s stock valued at $217,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.29% during mid-day trading on Friday, hitting $777.29. The company had a trading volume of 1,585,333 shares. The stock has a market capitalization of $534.21 billion, a PE ratio of 30.12 and a beta of 1.03. The stock has a 50 day moving average price of $773.79 and a 200-day moving average price of $738.90. Alphabet Inc. has a 1-year low of $625.56 and a 1-year high of $789.87.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the consensus estimate of $8.03 by $0.39. The company earned $21.50 billion during 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%. Alphabet’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.99 EPS. On average, analysts forecast that Alphabet Inc. will post $34.30 earnings per share for the current year.
GOOG has been the topic of several research analyst reports. Robert W. Baird restated an “outperform” rating and set a $860.00 target price on shares of Alphabet in a research report on Friday, June 3rd. Morgan Stanley restated an “overweight” rating and set a $865.00 target price (up previously from $850.00) on shares of Alphabet in a research report on Wednesday, June 8th. Maxim Group restated an “overweight” rating and set a $850.00 target price (down previously from $865.00) on shares of Alphabet in a research report on Wednesday, June 8th. Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $803.69 target price on the stock. in a research report on Monday, June 13th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $900.00 price target on shares of Alphabet in a research note on Saturday, June 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average price target of $925.99.
In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 3,672 shares of the company’s stock, valued at approximately $2,537,131.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lawrence Page sold 33,332 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $748.02, for a total transaction of $24,933,002.64. Following the transaction, the chief executive officer now directly owns 30,666 shares of the company’s stock, valued at approximately $22,938,781.32. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
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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