Atom Investors LP decreased its position in Alphabet Inc (NASDAQ:GOOG) by 53.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,791 shares of the information services provider’s stock after selling 4,348 shares during the period. Atom Investors LP’s holdings in Alphabet were worth $5,359,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Virtus ETF Advisers LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $38,000. Campbell Wealth Management purchased a new position in Alphabet during the second quarter valued at $41,000. Prestige Wealth Management Group LLC boosted its stake 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. New England Investment & Retirement Group Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $44,000. Finally, Islay Capital Management LLC increased its stake in shares of Alphabet by 40.0% in the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock worth $49,000 after purchasing an additional 10 shares in the last quarter. 32.42% of the stock is currently owned by institutional investors and hedge funds.
GOOG has been the topic of several recent analyst reports. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Deutsche Bank upped their price target on Alphabet from $1,700.00 to $1,975.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Finally, Robert W. Baird lifted their price objective on Alphabet from $1,650.00 to $1,675.00 in a research note on Friday, July 31st. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $1,688.62.
In other news, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $1,495.85, for a total value of $89,751.00. Following the transaction, the director now owns 664 shares of the company’s stock, valued at approximately $993,244.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.99% of the company’s stock.
Shares of GOOG stock traded down $50.80 during mid-day trading on Friday, hitting $1,591.04. 2,607,277 shares of the stock traded hands, compared to its average volume of 1,827,096. Alphabet Inc has a twelve month low of $1,013.54 and a twelve month high of $1,733.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The company’s 50-day simple moving average is $1,545.20 and its 200-day simple moving average is $1,392.20. The firm has a market cap of $1,082.17 billion, a price-to-earnings ratio of 34.99, a price-to-earnings-growth ratio of 2.20 and a beta of 1.07.
Alphabet (NASDAQ:GOOG) last announced its earnings results 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 return on equity of 15.62% and a net margin of 18.99%. The business had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Analysts forecast that Alphabet Inc will post 44.74 earnings per share for the current year.
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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