Alphabet Inc. (GOOG) Stake Raised by Chesley Taft & Associates LLC
Chesley Taft & Associates LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,171 shares of the company’s stock after buying an additional 900 shares during the period. Alphabet accounts for about 2.3% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 7th largest position. Chesley Taft & Associates LLC’s holdings in Alphabet were worth $22,266,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Donald L. Hagan LLC boosted its stake in Alphabet by 243.9% in the second quarter. Donald L. Hagan LLC now owns 705 shares of the company’s stock valued at $488,000 after buying an additional 500 shares during the last quarter. Kanaly Trust Co raised its position in shares of Alphabet by 3.0% in the second quarter. Kanaly Trust Co now owns 340 shares of the company’s stock valued at $235,000 after buying an additional 10 shares during the period. Hoertkorn Richard Charles bought a new position in shares of Alphabet during the second quarter valued at $665,000. Country Club Trust Company n.a. raised its position in shares of Alphabet by 1.3% in the second quarter. Country Club Trust Company n.a. now owns 6,415 shares of the company’s stock valued at $4,440,000 after buying an additional 81 shares during the period. Finally, Rothschild Investment Corp IL raised its position in shares of Alphabet by 8.6% in the second quarter. Rothschild Investment Corp IL now owns 12,669 shares of the company’s stock valued at $8,768,000 after buying an additional 999 shares during the period. Hedge funds and other institutional investors own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.29% during mid-day trading on Friday, reaching $777.29. 1,585,333 shares of the company were exchanged. The company has a market cap of $534.21 billion, a P/E ratio of 30.12 and a beta of 1.03. Alphabet Inc. has a 12 month low of $625.56 and a 12 month high of $789.87. The stock’s 50-day moving average is $773.79 and its 200-day moving average is $738.90.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. During the same quarter last year, the company posted $6.99 EPS. Alphabet’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post $34.30 earnings per share for the current year.
Several research analysts have weighed in on GOOG shares. Goldman Sachs Group Inc. set a $810.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $778.71 target price for the company in a research note on Monday, June 20th. Longbow Research started coverage on shares of Alphabet in a research note on Wednesday, July 6th. They set a “buy” rating for the company. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday. Finally, Societe Generale set a $910.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, forty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $925.99.
In related news, insider Sergey Brin sold 33,332 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $792.82, for a total value of $26,426,276.24. Following the completion of the transaction, the insider now owns 16,666 shares in the company, valued at approximately $13,213,138.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lawrence Page sold 33,340 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $785.88, for a total value of $26,201,239.20. Following the sale, the chief executive officer now owns 20,703,788 shares of the company’s stock, valued at $16,270,692,913.44. The disclosure for this sale can be found here. 13.92% of the stock is owned by corporate insiders.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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