Woodstock Corp Boosts Position in Alphabet Inc. (GOOG)
Woodstock Corp raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,916 shares of the company’s stock after buying an additional 37 shares during the period. Alphabet makes up approximately 1.6% of Woodstock Corp’s investment portfolio, making the stock its 23rd largest position. Woodstock Corp’s holdings in Alphabet were worth $7,708,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in GOOG. Bank of Montreal Can purchased a new stake in shares of Alphabet during the second quarter worth about $927,982,000. Magellan Asset Management Ltd raised its stake in shares of Alphabet by 186.5% in the second quarter. Magellan Asset Management Ltd now owns 1,435,391 shares of the company’s stock worth $993,434,000 after buying an additional 934,412 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of Alphabet during the second quarter worth about $498,110,000. Emerald Acquisition Ltd. purchased a new stake in shares of Alphabet during the second quarter worth about $481,330,000. Finally, Jana Partners LLC purchased a new stake in shares of Alphabet during the first quarter worth about $472,266,000. Institutional investors and hedge funds own 34.46% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.09% during mid-day trading on Friday, hitting $761.68. 587,421 shares of the stock were exchanged. The company has a market capitalization of $524.98 billion, a PE ratio of 27.88 and a beta of 1.01. The firm has a 50-day moving average price of $778.78 and a 200 day moving average price of $751.79. Alphabet Inc. has a 12-month low of $663.06 and a 12-month high of $816.68.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 27th. The company reported $9.06 earnings per share for the quarter, topping the consensus estimate of $8.62 by $0.44. The company earned $22.45 billion during the quarter, compared to analysts’ expectations of $13.17 billion. Alphabet had a net margin of 22.29% and a return on equity of 15.08%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $7.35 EPS. On average, equities research analysts expect that Alphabet Inc. will post $34.42 earnings per share for the current year.
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A number of equities analysts have weighed in on GOOG shares. reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, September 23rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research note on Wednesday, October 12th. Macquarie reaffirmed an “outperform” rating and set a $975.00 price target on shares of Alphabet in a research note on Wednesday, October 5th. RBC Capital Markets reaffirmed an “outperform” rating and set a $1,025.00 price target (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and forty-four have assigned a buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $940.42.
In related news, Director Ann Mather sold 43 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $773.49, for a total value of $33,260.07. Following the completion of the transaction, the director now directly owns 1,656 shares of the company’s stock, valued at $1,280,899.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP James Grier Campbell sold 193 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $769.26, for a total transaction of $148,467.18. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
Alphabet Company Profile
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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