Pathstone Family Office LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 222 shares of the company’s stock after buying an additional 15 shares during the period. Pathstone Family Office LLC’s holdings in Alphabet were worth $154,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GOOG. New Century Investment Management Inc. acquired a new position in shares of Alphabet during the first quarter valued at $2,354,000. Wade G W & Inc. acquired a new position in shares of Alphabet during the first quarter valued at $1,226,000. Glenmede Trust Co. NA boosted its position in shares of Alphabet by 170.8% in the first quarter. Glenmede Trust Co. NA now owns 95,364 shares of the company’s stock valued at $71,041,000 after buying an additional 60,146 shares in the last quarter. Investment Centers of America Inc. boosted its position in shares of Alphabet by 141.7% in the first quarter. Investment Centers of America Inc. now owns 1,368 shares of the company’s stock valued at $1,005,000 after buying an additional 802 shares in the last quarter. Finally, Sanders Morris Harris Inc. acquired a new position in shares of Alphabet during the first quarter valued at $1,054,000. Institutional investors own 34.39% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 778.53 on Friday. Alphabet Inc. has a 12 month low of $641.73 and a 12 month high of $792.28. The firm has a market capitalization of $535.06 billion, a PE ratio of 30.17 and a beta of 1.03. The stock has a 50 day moving average of $774.66 and a 200-day moving average of $741.88.
Alphabet (NASDAQ:GOOG) last announced 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 had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.99 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
Several research analysts have recently weighed in on the stock. Credit Agricole SA reiterated a “buy” rating on shares of Alphabet in a research note on Friday, September 23rd. Moffett Nathanson restated a “buy” rating and set a $925.00 price objective on shares of Alphabet in a research report on Friday, September 23rd. Deutsche Bank AG restated a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday. Wedbush downgraded shares of Alphabet from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $700.00 to $800.00 in a research report on Tuesday, September 27th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $822.37 price objective on the stock in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $926.55.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $781.81, for a total value of $3,127,240.00. Following the transaction, the chief executive officer now directly owns 3,231 shares of the company’s stock, valued at approximately $2,526,028.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lawrence Page sold 33,332 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $716.51, for a total transaction of $23,882,711.32. Following the completion of the transaction, the chief executive officer now directly owns 30,666 shares in the company, valued at $21,972,495.66. The disclosure for this sale can be found here. 13.92% of the stock is currently 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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