Rosenbaum Jay D. lifted its holdings in Alphabet Inc (NASDAQ:GOOG) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 640 shares of the information services provider’s stock after purchasing an additional 30 shares during the period. Rosenbaum Jay D.’s holdings in Alphabet were worth $692,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Watch Point Trust Co grew its stake in shares of Alphabet by 18.8% in the 2nd quarter. Watch Point Trust Co now owns 2,481 shares of the information services provider’s stock worth $2,682,000 after purchasing an additional 393 shares during the last quarter. Executive Wealth Management LLC grew its stake in shares of Alphabet by 6.7% in the 2nd quarter. Executive Wealth Management LLC now owns 830 shares of the information services provider’s stock worth $897,000 after purchasing an additional 52 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Alphabet by 11.6% in the 2nd quarter. Stephens Inc. AR now owns 17,938 shares of the information services provider’s stock worth $19,389,000 after purchasing an additional 1,862 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Alphabet by 5.1% in the second quarter. Hartford Financial Management Inc. now owns 1,302 shares of the information services provider’s stock worth $1,407,000 after acquiring an additional 63 shares in the last quarter. Finally, Welch Capital Partners LLC NY increased its position in shares of Alphabet by 5.0% in the second quarter. Welch Capital Partners LLC NY now owns 9,947 shares of the information services provider’s stock worth $10,752,000 after acquiring an additional 475 shares in the last quarter. 33.98% of the stock is currently owned by institutional investors.
GOOG traded up $5.31 on Thursday, reaching $1,169.60. 550,075 shares of the company traded hands, compared to its average volume of 1,719,128. The business has a 50 day moving average price of $1,155.12. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27. The stock has a market cap of $814.54 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $11.75 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc will post 52.1 earnings per share for the current year.
Several research analysts have recently weighed in on the stock. Deutsche Bank lifted their target price on shares of Alphabet from $1,400.00 to $1,475.00 and gave the stock a “buy” rating in a research report on Thursday. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Cowen lifted their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Finally, BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, July 13th. Three research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $1,378.93.
In other Alphabet news, VP Amie Thuener O’toole sold 55 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total value of $66,040.70. Following the completion of the sale, the vice president now directly owns 388 shares in the company, valued at $465,887.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David C. Drummond sold 1,600 shares of Alphabet stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total transaction of $1,944,624.00. Following the completion of the sale, the senior vice president now owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The disclosure for this sale can be found here. Insiders sold 2,123 shares of company stock valued at $2,553,758 over the last quarter. Corporate insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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