Gobi Capital LLC Buys 1,438 Shares of Alphabet Inc (NASDAQ:GOOG)

Share on StockTwits

Gobi Capital LLC grew its holdings in Alphabet Inc (NASDAQ:GOOG) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,269 shares of the information services provider’s stock after acquiring an additional 1,438 shares during the quarter. Alphabet accounts for about 1.7% of Gobi Capital LLC’s investment portfolio, making the stock its 12th largest holding. Gobi Capital LLC’s holdings in Alphabet were worth $22,857,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GOOG. Engrave Wealth Partners LLC boosted its position in shares of Alphabet by 15.9% during the second quarter. Engrave Wealth Partners LLC now owns 51 shares of the information services provider’s stock worth $72,000 after buying an additional 7 shares during the period. Charles Schwab Trust Co increased its stake in shares of Alphabet by 2.2% during the second quarter. Charles Schwab Trust Co now owns 325 shares of the information services provider’s stock worth $459,000 after purchasing an additional 7 shares during the period. Capital Planning Advisors LLC increased its stake in Alphabet by 1.0% during the 2nd quarter. Capital Planning Advisors LLC now owns 740 shares of the information services provider’s stock worth $1,046,000 after acquiring an additional 7 shares during the period. Capital Financial Planning LLC increased its stake in Alphabet by 2.6% during the 2nd quarter. Capital Financial Planning LLC now owns 278 shares of the information services provider’s stock worth $393,000 after acquiring an additional 7 shares during the period. Finally, Wealth Advisors of Iowa LLC increased its stake in Alphabet by 2.2% during the 2nd quarter. Wealth Advisors of Iowa LLC now owns 328 shares of the information services provider’s stock worth $464,000 after acquiring an additional 7 shares during the period. Institutional investors own 32.42% of the company’s stock.

GOOG traded down $50.80 during trading on Friday, hitting $1,591.04. The stock had a trading volume of 2,607,277 shares, compared to its average volume of 1,827,096. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. Alphabet Inc has a twelve month low of $1,013.54 and a twelve month high of $1,733.18. The firm has a market capitalization of $1,082.17 billion, a P/E ratio of 34.99, a PEG ratio of 2.20 and a beta of 1.07. The company’s 50-day moving average price is $1,545.20 and its 200 day moving average price is $1,392.20.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for 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, equities analysts expect that Alphabet Inc will post 44.74 earnings per share for the current fiscal year.

In other news, Director John L. Hennessy sold 60 shares of the firm’s 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 transaction, the director now directly owns 664 shares of the company’s stock, valued at $993,244.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.99% of the company’s stock.

GOOG has been the topic of several recent research reports. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Friday, July 31st. Oppenheimer boosted their target price on Alphabet from $1,445.00 to $1,685.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Robert W. Baird boosted their target price on shares of Alphabet from $1,650.00 to $1,675.00 in a report on Friday, July 31st. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Finally, Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report 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 assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,688.62.

Alphabet 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.

Featured Story: How to Profit and Limit Losses With Stop Orders

Institutional Ownership by Quarter for Alphabet (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.

Leave a Reply