JFS Wealth Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,723 shares of the company’s stock after selling 59 shares during the period. JFS Wealth Advisors LLC’s holdings in Alphabet were worth $1,192,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in GOOG. New Century Investment Management Inc. bought a new position in Alphabet during the first quarter worth approximately $2,354,000. Hills Bank & Trust Co. raised its position in Alphabet by 92.8% in the first quarter. Hills Bank & Trust Co. now owns 2,874 shares of the company’s stock worth $2,141,000 after buying an additional 1,383 shares in the last quarter. IMS Capital Management raised its position in Alphabet by 6.7% in the first quarter. IMS Capital Management now owns 1,657 shares of the company’s stock worth $1,234,000 after buying an additional 104 shares in the last quarter. PacWest Financial Management Inc raised its position in Alphabet by 7.2% in the first quarter. PacWest Financial Management Inc now owns 1,565 shares of the company’s stock worth $1,165,000 after buying an additional 105 shares in the last quarter. Finally, Douglas Lane & Associates LLC bought a new position in Alphabet during the first quarter worth approximately $49,532,000. 34.39% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOG) traded down 0.37% during midday trading on Tuesday, reaching $783.07. The company’s stock had a trading volume of 1,372,437 shares. The firm has a market cap of $538.18 billion, a price-to-earnings ratio of 30.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28. The company’s 50-day moving average is $773.44 and its 200 day moving average is $740.67.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. During the same period in the previous year, the firm posted $6.99 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post $34.14 earnings per share for the current year.
A number of equities research analysts have weighed in on GOOG shares. Credit Agricole SA reiterated a “buy” rating on shares of Alphabet in a report on Friday, September 23rd. Moffett Nathanson reiterated a “buy” rating and issued a $925.00 target price on shares of Alphabet in a report on Friday, September 23rd. Wedbush downgraded Alphabet from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $700.00 to $800.00 in a report on Tuesday, September 27th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $822.37 target price for the company in a report on Thursday, August 18th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $1,025.00 target price (up from $1,000.00) on shares of Alphabet in a report on Friday, September 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $926.55.
In other Alphabet news, Director Ann Mather sold 115 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $769.38, for a total transaction of $88,478.70. Following the sale, the director now directly owns 1,656 shares of the company’s stock, valued at $1,274,093.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $739.21, for a total value of $2,956,840.00. Following the sale, the chief executive officer now directly owns 3,297 shares in the company, valued at $2,437,175.37. The disclosure for this sale can be found here. 13.92% of the stock is owned by 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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