Forte Capital LLC ADV Holds Stake in Alphabet Inc. (GOOG)
Forte Capital LLC ADV held its position in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,797 shares of the information services provider’s stock at the close of the second quarter. Forte Capital LLC ADV’s holdings in Alphabet were worth $1,633,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Farmers National Bank boosted its holdings in shares of Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after purchasing an additional 21 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $170,000. Baker Boyer National Bank bought a new stake in shares of Alphabet in the second quarter worth about $200,000. Trust Department MB Financial Bank N A increased its holdings in shares of Alphabet by 29.4% in the second quarter. Trust Department MB Financial Bank N A now owns 220 shares of the information services provider’s stock worth $200,000 after purchasing an additional 50 shares during the last quarter. Finally, Palo Capital Inc. bought a new stake in shares of Alphabet in the first quarter worth about $202,000. 34.53% of the stock is currently owned by institutional investors.
In other Alphabet news, Director Ann Mather sold 629 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $932.28, for a total transaction of $586,404.12. Following the sale, the director now owns 1,781 shares of the company’s stock, valued at $1,660,390.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James Grier Campbell sold 184 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $932.38, for a total transaction of $171,557.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,473 shares of company stock valued at $39,511,648. Insiders own 13.92% of the company’s stock.
A number of equities research analysts recently commented on GOOG shares. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price target for the company. in a report on Wednesday, August 30th. Canaccord Genuity downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective on the stock. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Finally, UBS AG reaffirmed a “buy” rating and issued a $1,080.00 price objective on shares of Alphabet in a research note on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $1,034.31.
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Alphabet Inc. (NASDAQ GOOG) traded down 0.08% during trading on Tuesday, hitting $952.53. 449,164 shares of the stock traded hands. The company has a market cap of $659.99 billion, a P/E ratio of 34.52 and a beta of 0.94. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The company’s 50 day moving average price is $927.78 and its 200 day moving average price is $916.33.
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 Zacks’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. Alphabet’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm earned $8.42 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
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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