Arthur M. Cohen & Associates LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 104,161 shares of the information services provider’s stock, valued at approximately $4,914,000. Alphabet accounts for 1.9% of Arthur M. Cohen & Associates LLC’s investment portfolio, making the stock its 13th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Cambridge Advisors Inc. grew its stake in shares of Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock valued at $226,000 after buying an additional 1 shares in the last quarter. Gradient Investments LLC grew its stake in shares of Alphabet by 0.6% in the second quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock valued at $460,000 after buying an additional 3 shares in the last quarter. Lederer & Associates Investment Counsel CA grew its stake in shares of Alphabet by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock valued at $905,000 after buying an additional 4 shares in the last quarter. Hodges Capital Management Inc. grew its stake in shares of Alphabet by 1.4% in the first quarter. Hodges Capital Management Inc. now owns 298 shares of the information services provider’s stock valued at $247,000 after buying an additional 4 shares in the last quarter. Finally, Terra Nova Asset Management LLC grew its stake in shares of Alphabet by 0.6% in the second quarter. Terra Nova Asset Management LLC now owns 642 shares of the information services provider’s stock valued at $583,000 after buying an additional 4 shares in the last quarter. Institutional investors own 34.53% of the company’s stock.

Alphabet Inc. (NASDAQ GOOG) opened at 969.96 on Friday. The firm has a market cap of $672.06 billion, a PE ratio of 35.15 and a beta of 0.94. The company’s 50 day moving average price is $930.85 and its 200 day moving average price is $917.72. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (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 business had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same period last year, the business posted $8.42 EPS. Alphabet’s revenue was up 21.0% on a year-over-year basis. Analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the completion of the sale, the chief executive officer now directly owns 1,536 shares in the company, valued at $1,489,797.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $949.77, for a total transaction of $1,899,540.00. Following the sale, 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 sold a total of 42,694 shares of company stock valued at $39,941,804 over the last quarter. 13.92% of the stock is currently owned by company insiders.

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A number of equities research analysts have weighed in on the company. UBS AG restated a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a research note on Tuesday, July 25th. Barclays PLC restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Robert W. Baird restated an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, July 25th. 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 company currently has an average rating of “Buy” and an average price target of $1,034.31.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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