Hallmark Capital Management Inc. Boosts Holdings in Alphabet Inc. (GOOG)
Hallmark Capital Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 434.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 476 shares of the information services provider’s stock after acquiring an additional 387 shares during the quarter. Hallmark Capital Management Inc.’s holdings in Alphabet were worth $433,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Sanders Capital LLC grew its holdings in Alphabet by 37.1% during the 1st quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock worth $1,019,026,000 after acquiring an additional 324,596 shares during the last quarter. Pictet Asset Management Ltd. grew its holdings in Alphabet by 35.8% during the 1st quarter. Pictet Asset Management Ltd. now owns 422,437 shares of the information services provider’s stock worth $350,437,000 after acquiring an additional 111,292 shares during the last quarter. Karp Capital Management Corp bought a new stake in Alphabet during the 1st quarter worth approximately $82,519,000. Russell Investments Group Ltd. grew its holdings in Alphabet by 12.0% during the 1st quarter. Russell Investments Group Ltd. now owns 876,999 shares of the information services provider’s stock worth $727,645,000 after acquiring an additional 94,111 shares during the last quarter. Finally, Vontobel Asset Management Inc. grew its holdings in Alphabet by 19.1% during the 2nd quarter. Vontobel Asset Management Inc. now owns 558,500 shares of the information services provider’s stock worth $520,175,000 after acquiring an additional 89,703 shares during the last quarter. 34.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (GOOG) traded up 1.7317% during trading on Thursday, reaching $968.1599. 609,411 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $929.62 and a 200 day moving average price of $917.34. The firm has a market cap of $670.82 billion, a price-to-earnings ratio of 35.0872 and a beta of 0.94. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS 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 analyst estimates of $25.61 billion. During the same quarter in the prior year, the firm earned $8.42 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post $30.59 EPS for the current year.
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In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the completion of the transaction, the chief executive officer now directly owns 1,536 shares in the company, valued at approximately $1,489,797.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $949.77, for a total value of $1,899,540.00. Following the transaction, the senior vice president now owns 1,800 shares of the company’s stock, valued at $1,709,586. The disclosure for this sale can be found here. Insiders have sold a total of 42,694 shares of company stock valued at $39,941,804 in the last ninety days. Insiders own 13.92% of the company’s stock.
GOOG has been the topic of a number of analyst reports. Moffett Nathanson reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, June 9th. Vetr raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $924.24 price objective on the stock in a research note on Monday, June 12th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, June 12th. Canaccord Genuity lowered shares of 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, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $1,034.31.
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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