Lourd Capital LLC Increases Position in Alphabet Inc. (GOOG)
Lourd Capital LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 26.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,253 shares of the information services provider’s stock after purchasing an additional 264 shares during the quarter. Lourd Capital LLC’s holdings in Alphabet were worth $1,139,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in GOOG. Doyle Wealth Management boosted its holdings in Alphabet by 6.7% during the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after buying an additional 200 shares during the last quarter. Carret Asset Management LLC boosted its holdings in Alphabet by 1.5% during the first quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock worth $8,281,000 after buying an additional 145 shares during the last quarter. Adviser Investments LLC bought a new position in Alphabet during the first quarter worth about $1,276,000. Rothschild Investment Corp IL boosted its holdings in Alphabet by 1.7% during the second quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock worth $9,823,000 after buying an additional 184 shares during the last quarter. Finally, Stevens Capital Management LP boosted its holdings in Alphabet by 228.1% during the first quarter. Stevens Capital Management LP now owns 6,463 shares of the information services provider’s stock worth $5,361,000 after buying an additional 4,493 shares during the last quarter. Hedge funds and other institutional investors own 34.53% of the company’s stock.
A number of equities analysts have issued reports on GOOG shares. Societe Generale restated a “buy” rating on shares of Alphabet in a report on Friday, July 7th. BidaskClub cut Alphabet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 5th. MKM Partners restated a “buy” rating and set a $1,170.00 target price on shares of Alphabet in a report on Wednesday, June 28th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $995.83 target price on the stock in a report on Monday, June 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,034.07.
Alphabet Inc. (GOOG) opened at 987.83 on Friday. Alphabet Inc. has a one year low of $727.54 and a one year high of $994.12. The firm has a 50-day moving average price of $940.16 and a 200-day moving average price of $923.18. The firm has a market cap of $684.45 billion, a PE ratio of 35.80 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter in the previous year, the business earned $8.42 EPS. Alphabet’s revenue was up 21.0% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’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 transaction, the chief executive officer now owns 1,536 shares in the company, valued at approximately $1,489,797.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 38 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total value of $36,451.88. Following the transaction, the director now owns 1,797 shares in the company, valued at approximately $1,723,790.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,694 shares of company stock worth $38,042,264. 13.92% of the stock is owned by company insiders.
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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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