Plaisance Capital LLC lowered its position in shares of Alphabet Inc (NASDAQ:GOOG) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,862 shares of the information services provider’s stock after selling 188 shares during the quarter. Alphabet accounts for 2.8% of Plaisance Capital LLC’s investment portfolio, making the stock its 12th largest holding. Plaisance Capital LLC’s holdings in Alphabet were worth $2,632,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Gobi Capital LLC lifted its position in Alphabet by 1.2% in the second quarter. Gobi Capital LLC now owns 117,269 shares of the information services provider’s stock valued at $22,857,000 after purchasing an additional 1,438 shares during the period. HBK Sorce Advisory LLC increased its position in Alphabet by 1.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 2,737 shares of the information services provider’s stock worth $3,869,000 after purchasing an additional 37 shares during the period. RBF Capital LLC raised its stake in shares of Alphabet by 4.8% during the 2nd quarter. RBF Capital LLC now owns 10,485 shares of the information services provider’s stock worth $14,822,000 after buying an additional 480 shares in the last quarter. TCG Advisors LP lifted its holdings in shares of Alphabet by 13.8% in the 2nd quarter. TCG Advisors LP now owns 248 shares of the information services provider’s stock valued at $351,000 after buying an additional 30 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Alphabet by 39.3% in the second quarter. APG Asset Management N.V. now owns 500,912 shares of the information services provider’s stock valued at $630,454,000 after buying an additional 141,341 shares in the last quarter. Institutional investors own 32.42% of the company’s stock.
Shares of NASDAQ GOOG traded down $50.80 during midday trading on Friday, reaching $1,591.04. 2,607,277 shares of the stock were exchanged, compared to its average volume of 1,827,096. The stock has a 50 day moving average price of $1,545.20 and a 200-day moving average price of $1,392.20. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1,082.17 billion, a P/E ratio of 34.99, a P/E/G ratio of 2.20 and a beta of 1.07. Alphabet Inc has a 52-week low of $1,013.54 and a 52-week high of $1,733.18.
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, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. On average, analysts forecast that Alphabet Inc will post 44.74 earnings per share for the current year.
A number of research firms have commented on GOOG. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Friday, July 31st. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a report on Friday, July 31st. Mizuho boosted their price objective on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Friday, July 31st. Finally, UBS Group reiterated a “buy” rating and set a $1,970.00 price target (up from $1,600.00) on shares of Alphabet in a research report on Tuesday, August 25th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average price target of $1,688.62.
In related news, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction on Monday, July 6th. The stock was sold at an average price of $1,495.85, for a total transaction of $89,751.00. Following the completion of the sale, the director now owns 664 shares of the company’s stock, valued at $993,244.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.99% of the stock is currently owned by company insiders.
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.
See Also: Return on Equity (ROE)
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