Investment Counselors of Maryland LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,972 shares of the information services provider’s stock after buying an additional 39 shares during the period. Investment Counselors of Maryland LLC’s holdings in Alphabet were worth $1,636,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Welch & Forbes LLC increased its stake in Alphabet by 3.5% in the first quarter. Welch & Forbes LLC now owns 56,544 shares of the information services provider’s stock worth $46,907,000 after buying an additional 1,901 shares during the period. Capital Advisors Inc. OK increased its stake in Alphabet by 8.0% in the first quarter. Capital Advisors Inc. OK now owns 14,436 shares of the information services provider’s stock worth $11,976,000 after buying an additional 1,064 shares during the period. Callahan Advisors LLC increased its stake in Alphabet by 6.4% in the first quarter. Callahan Advisors LLC now owns 13,321 shares of the information services provider’s stock worth $11,051,000 after buying an additional 799 shares during the period. Whittier Trust Co. increased its stake in Alphabet by 2.5% in the first quarter. Whittier Trust Co. now owns 38,134 shares of the information services provider’s stock worth $31,634,000 after buying an additional 926 shares during the period. Finally, BTC Capital Management Inc. bought a new stake in Alphabet during the first quarter worth approximately $209,000. Hedge funds and other institutional investors own 34.62% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ GOOG) opened at 955.99 on Friday. The stock has a 50 day moving average of $952.24 and a 200-day moving average of $860.20. The firm has a market capitalization of $661.30 billion, a PE ratio of 32.30 and a beta of 0.94. Alphabet Inc. has a 52 week low of $696.43 and a 52 week high of $988.25.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, beating the consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $24.18 billion. During the same quarter in the prior year, the firm posted $7.50 EPS. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post $33.99 earnings per share for the current fiscal year.

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A number of analysts have commented on the stock. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target on the stock. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Susquehanna Bancshares Inc restated a “positive” rating and set a $1,200.00 price target on shares of Alphabet in a research report on Wednesday, June 28th. Pivotal Research restated a “hold” rating and set a $950.00 price target on shares of Alphabet in a research report on Monday, March 27th. Credit Suisse Group boosted their price target on shares of Alphabet from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $891.70 price target on the stock in a research report on Monday, March 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $992.70.

In other Alphabet news, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $945.65, for a total transaction of $1,891,300.00. Following the completion of the sale, the senior vice president now owns 3,800 shares of the company’s stock, valued at approximately $3,593,470. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $841.50, for a total value of $3,366,000.00. Following the sale, the chief executive officer now directly owns 1,976 shares of the company’s stock, valued at approximately $1,662,804. The disclosure for this sale can be found here. Insiders have sold a total of 46,268 shares of company stock valued at $42,981,057 in the last ninety days. Insiders own 13.92% of the company’s stock.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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