Alphabet Inc. (GOOG) Position Decreased by Mathes Company Inc.
Mathes Company Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,854 shares of the information services provider’s stock after selling 25 shares during the period. Alphabet makes up about 1.7% of Mathes Company Inc.’s portfolio, making the stock its 19th largest position. Mathes Company Inc.’s holdings in Alphabet were worth $3,502,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in GOOG. Concorde Asset Management LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $283,000. Baltimore Washington Financial Advisors Inc. raised its position in shares of Alphabet by 3.3% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 8,292 shares of the information services provider’s stock valued at $7,535,000 after buying an additional 267 shares during the period. Horan Capital Management raised its position in shares of Alphabet by 2.0% in the second quarter. Horan Capital Management now owns 26,653 shares of the information services provider’s stock valued at $24,221,000 after buying an additional 517 shares during the period. Peoples Financial Services CORP. raised its position in shares of Alphabet by 6.3% in the second quarter. Peoples Financial Services CORP. now owns 1,680 shares of the information services provider’s stock valued at $1,527,000 after buying an additional 100 shares during the period. Finally, Harwood Advisory Group LLC raised its position in shares of Alphabet by 48.1% in the second quarter. Harwood Advisory Group LLC now owns 720 shares of the information services provider’s stock valued at $654,000 after buying an additional 234 shares during the period. 34.59% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Inc. (GOOG) opened at 968.15 on Friday. The firm has a market cap of $669.72 billion, a PE ratio of 32.72 and a beta of 0.94. The firm’s 50-day moving average is $948.07 and its 200 day moving average is $874.98. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $988.25.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.38 by $0.35. The business had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.50 EPS. On average, equities analysts forecast that Alphabet Inc. will post $33.97 earnings per share for the current fiscal year.
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Several equities analysts recently commented on the stock. Canaccord Genuity lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target for the company. in a research 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 target (down previously from $990.00) on shares of Alphabet in a research report on Monday. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $1,200.00 price target on shares of Alphabet in a research report on Wednesday, June 28th. Credit Suisse Group upped 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 raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $907.74 price target for the company in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $994.64.
In related news, VP James Grier Campbell sold 366 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $902.72, for a total transaction of $330,395.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Diane B. Greene sold 1,863 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $902.72, for a total transaction of $1,681,767.36. Following the transaction, the insider now owns 85,916 shares in the company, valued at approximately $77,558,091.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,268 shares of company stock worth $43,494,737. 13.92% of the stock is owned by corporate insiders.
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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