Gilman Hill Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 920 shares of the company’s stock after buying an additional 100 shares during the period. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $637,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Nordea Investment Management AB boosted its stake in shares of Alphabet by 9.8% in the second quarter. Nordea Investment Management AB now owns 183,470 shares of the company’s stock worth $126,980,000 after buying an additional 16,342 shares in the last quarter. Chesley Taft & Associates LLC boosted its stake in shares of Alphabet by 2.9% in the second quarter. Chesley Taft & Associates LLC now owns 32,171 shares of the company’s stock worth $22,266,000 after buying an additional 900 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Alphabet by 5.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 76,454 shares of the company’s stock worth $52,914,000 after buying an additional 4,102 shares in the last quarter. AXA boosted its stake in shares of Alphabet by 3.8% in the first quarter. AXA now owns 290,480 shares of the company’s stock worth $216,393,000 after buying an additional 10,590 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in shares of Alphabet by 9.1% in the first quarter. Pictet Asset Management Ltd. now owns 218,770 shares of the company’s stock worth $152,651,000 after buying an additional 18,278 shares in the last quarter. Institutional investors and hedge funds own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.29% during midday trading on Friday, reaching $777.29. 1,585,333 shares of the company traded hands. Alphabet Inc. has a 12-month low of $625.56 and a 12-month high of $789.87. The company has a 50-day moving average price of $773.79 and a 200-day moving average price of $738.90. The company has a market cap of $534.21 billion, a price-to-earnings ratio of 30.12 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating analysts’ consensus estimates of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. Alphabet’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $6.99 earnings per share. On average, analysts predict that Alphabet Inc. will post $34.30 earnings per share for the current fiscal year.
A number of analysts recently weighed in on GOOG shares. Goldman Sachs Group Inc. set a $810.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $778.71 price objective for the company in a research report on Monday, June 20th. Longbow Research assumed coverage on shares of Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Tuesday, September 27th. Finally, Societe Generale set a $910.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $925.99.
In other Alphabet news, insider Sergey Brin sold 33,332 shares of the stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $796.59, for a total transaction of $26,551,937.88. Following the completion of the transaction, the insider now directly owns 16,666 shares in the company, valued at $13,275,968.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $690.94, for a total value of $2,763,760.00. Following the transaction, the chief executive officer now owns 3,672 shares of the company’s stock, valued at $2,537,131.68. The disclosure for this sale can be found here. 13.92% of the stock is 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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