Alphabet Inc. (GOOG) Shares Bought by Investment Counsel Inc.
Investment Counsel Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,881 shares of the information services provider’s stock after purchasing an additional 25 shares during the quarter. Investment Counsel Inc.’s holdings in Alphabet were worth $1,709,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Riggs Asset Managment Co. Inc. boosted its holdings in Alphabet by 39.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after acquiring an additional 40 shares during the period. Farmers National Bank boosted its holdings in Alphabet by 15.0% in the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after acquiring an additional 21 shares during the period. St. Johns Investment Management Company LLC boosted its holdings in Alphabet by 1,046.7% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after acquiring an additional 157 shares during the period. Cribstone Capital Management LLC boosted its holdings in Alphabet by 5.7% in the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after acquiring an additional 10 shares during the period. Finally, Baker Boyer National Bank purchased a new position in Alphabet in the 2nd quarter worth approximately $200,000. 34.53% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (GOOG) opened at 977.00 on Tuesday. 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 $934.69 and its 200-day moving average price is $921.09. The firm has a market capitalization of $676.94 billion, a price-to-earnings ratio of 35.41 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. The company had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.42 earnings per share. Equities analysts expect that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
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In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $958.40, for a total transaction of $3,833,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the sale, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,694 shares of company stock valued at $39,941,804. 13.92% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on GOOG. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and issued a $1,000.00 price target on shares of Alphabet in a report on Thursday, July 27th. SunTrust Banks, Inc. began coverage on Alphabet in a report on Wednesday, August 16th. They issued a “buy” rating and a $1,100.00 price target for the company. UBS AG restated a “buy” rating and issued a $1,080.00 price target on shares of Alphabet in a report on Tuesday, July 25th. Finally, MKM Partners restated a “buy” rating and issued a $1,210.00 price target (up previously from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $1,034.31.
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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