Avalon Investment & Advisory lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 31.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,411 shares of the information services provider’s stock after purchasing an additional 334 shares during the period. Avalon Investment & Advisory’s holdings in Alphabet were worth $1,995,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Virtus ETF Advisers LLC acquired a new position in shares of Alphabet during the second quarter valued at about $38,000. Campbell Wealth Management bought a new stake in shares of Alphabet during the second quarter worth about $41,000. Prestige Wealth Management Group LLC grew its position in Alphabet by 1,700.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares in the last quarter. Cordasco Financial Network grew its position in Alphabet by 32.1% in the 1st quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after purchasing an additional 9 shares in the last quarter. Finally, New England Investment & Retirement Group Inc. bought a new stake in Alphabet in the 1st quarter worth about $44,000. Institutional investors own 32.91% of the company’s stock.
In related news, Director John L. Hennessy sold 60 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $1,434.85, for a total value of $86,091.00. Following the transaction, the director now owns 629 shares in the company, valued at approximately $902,520.65. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 32 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the transaction, the director now owns 1,119 shares in the company, valued at approximately $1,587,178.41. The disclosure for this sale can be found here. Insiders sold a total of 152 shares of company stock valued at $221,230 over the last ninety days. 12.99% of the stock is currently owned by insiders.
Alphabet stock traded up $27.81 during mid-day trading on Thursday, reaching $1,575.34. 69,497 shares of the company’s stock traded hands, compared to its average volume of 1,672,116. The company has a market cap of $1,060.10 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.15 and a beta of 1.03. The stock has a 50 day moving average of $1,503.32 and a two-hundred day moving average of $1,380.51. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12-month low of $1,013.54 and a 12-month high of $1,586.99.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. As a group, sell-side analysts forecast that Alphabet Inc will post 44.74 earnings per share for the current year.
GOOG has been the topic of a number of research analyst reports. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Monday, August 3rd. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a report on Friday, July 31st. Oppenheimer increased their price target on shares of Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, July 31st. Finally, Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and an average price target of $1,671.00.
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.
Recommended Story: Why does a company issue an IPO?
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.