Quantitative Systematic Strategies LLC lifted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 78.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399 shares of the information services provider’s stock after acquiring an additional 175 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Alphabet were worth $445,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in GOOG. BlackRock Inc. raised its holdings in Alphabet by 1.9% in the 1st quarter. BlackRock Inc. now owns 19,071,440 shares of the information services provider’s stock valued at $19,677,721,000 after acquiring an additional 352,952 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in Alphabet by 132,719.3% in the 1st quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock valued at $18,680,000 after acquiring an additional 18,665,638 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Alphabet by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,644,595 shares of the information services provider’s stock valued at $4,066,096,000 after acquiring an additional 27,153 shares during the last quarter. Magellan Asset Management Ltd raised its holdings in Alphabet by 684.2% in the 1st quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock valued at $2,182,080,000 after acquiring an additional 1,845,160 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Alphabet by 10.4% in the 2nd quarter. Jennison Associates LLC now owns 1,662,006 shares of the information services provider’s stock valued at $1,854,217,000 after acquiring an additional 156,582 shares during the last quarter. 34.16% of the stock is currently owned by institutional investors and hedge funds.
In other Alphabet news, CAO Amie Thuener O’toole sold 80 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total value of $95,504.00. Following the sale, the chief accounting officer now owns 388 shares in the company, valued at $463,194.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director L John Doerr sold 10,262 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $1,218.20, for a total transaction of $12,501,168.40. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at approximately $4,245,427. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,621 shares of company stock worth $102,660,942. 13.11% of the stock is owned by company insiders.
Several research analysts have weighed in on GOOG shares. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Friday, September 14th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Wednesday, August 29th. ValuEngine downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Macquarie restated a “buy” rating on shares of Alphabet in a report on Monday, September 10th. Finally, BidaskClub downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,301.81.
Shares of Alphabet stock traded down $16.25 during trading on Friday, reaching $1,066.15. The company had a trading volume of 1,343,154 shares, compared to its average volume of 2,196,888. The firm has a market cap of $760.87 billion, a PE ratio of 24.60 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc has a fifty-two week low of $980.64 and a fifty-two week high of $1,273.89.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $2.65. The business had revenue of $27.16 billion for the quarter. Alphabet had a net margin of 14.45% and a return on equity of 19.40%.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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