Alphabet Inc. (NASDAQ:GOOG) Position Increased by Harwood Advisory Group LLC
Harwood Advisory Group LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 48.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 720 shares of the information services provider’s stock after buying an additional 234 shares during the period. Harwood Advisory Group LLC’s holdings in Alphabet were worth $654,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. Empirical Finance LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $115,000. Farmers National Bank raised its position in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the last quarter. St. Johns Investment Management Company LLC raised its position in shares of Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the last quarter. Pacific Center for Financial Services purchased a new position in shares of Alphabet during the fourth quarter valued at about $142,000. Finally, Feltz Wealth PLAN Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $170,000. 34.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 965.40 on Wednesday. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The stock has a market capitalization of $667.81 billion, a PE ratio of 32.62 and a beta of 0.94. The stock’s 50 day moving average is $948.11 and its 200 day moving average is $873.59.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.38 by $0.35. The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $24.18 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.50 EPS. Analysts anticipate that Alphabet Inc. will post $33.95 EPS for the current fiscal year.
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Several brokerages have issued reports on GOOG. Canaccord Genuity lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective on the stock. in a report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reaffirmed a “hold” rating and set a $980.00 price objective (down previously from $990.00) on shares of Alphabet in a report on Monday. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $1,200.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. Credit Suisse Group raised their price objective on Alphabet from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Finally, Vetr raised Alphabet from a “sell” rating to a “hold” rating and set a $907.74 price objective on the stock in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $994.64.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $915.16, for a total value of $3,660,640.00. Following the transaction, the chief executive officer now owns 2,205 shares in the company, valued at approximately $2,017,927.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP James Grier Campbell sold 366 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $902.72, for a total transaction of $330,395.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,268 shares of company stock worth $39,615,057. Company insiders own 13.92% of the company’s stock.
Alphabet Company Profile
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.
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