HM Payson & Co. Buys 1,538 Shares of Alphabet Inc. (GOOG)
HM Payson & Co. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 31,145 shares of the information services provider’s stock after buying an additional 1,538 shares during the period. Alphabet makes up about 1.2% of HM Payson & Co.’s portfolio, making the stock its 26th largest position. HM Payson & Co.’s holdings in Alphabet were worth $25,837,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at $2,128,163,000. Adviser Investments LLC bought a new stake in shares of Alphabet during the first quarter valued at $1,276,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after buying an additional 18 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at $7,718,000. Finally, Hartford Investment Management Co. boosted its stake in shares of Alphabet by 6.1% in the first quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock valued at $65,974,000 after buying an additional 4,602 shares during the last quarter. 34.57% of the stock is owned by institutional investors.
Alphabet Inc. (GOOG) traded down 0.22% on Friday, reaching $908.94. The company’s stock had a trading volume of 456,213 shares. The firm has a 50-day moving average of $933.72 and a 200-day moving average of $891.73. The company has a market capitalization of $629.79 billion, a PE ratio of 32.94 and a beta of 0.94. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter in the previous year, the firm posted $8.42 earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. Analysts predict that Alphabet Inc. will post $30.60 EPS for the current year.
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Several equities research analysts recently commented on GOOG shares. Citigroup Inc. reaffirmed a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a research note on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, June 12th. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $995.83 target price for the company in a research note on Monday, June 26th. Instinet reaffirmed a “buy” rating and set a $925.00 target price on shares of Alphabet in a research note on Wednesday, April 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and forty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,030.56.
In other news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the sale, the chief executive officer now directly owns 2,058 shares of the company’s stock, valued at approximately $2,019,824.10. The disclosure for this sale can be found here. Insiders have sold 47,169 shares of company stock valued at $44,206,482 in the last ninety days. 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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