Baker Ellis Asset Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 12.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,577 shares of the information services provider’s stock after buying an additional 288 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Alphabet were worth $2,342,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Beach Investment Management LLC. bought a new position in Alphabet in the second quarter valued at approximately $268,000. Peak Asset Management LLC bought a new stake in shares of Alphabet in the second quarter worth $213,000. Palladium Partners LLC lifted its position in shares of Alphabet by 2.1% in the second quarter. Palladium Partners LLC now owns 2,650 shares of the information services provider’s stock worth $2,408,000 after purchasing an additional 55 shares in the last quarter. Perennial Advisors LLC lifted its position in shares of Alphabet by 8.7% in the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after purchasing an additional 260 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Alphabet by 298.2% in the second quarter. Chicago Partners Investment Group LLC now owns 450 shares of the information services provider’s stock worth $398,000 after purchasing an additional 337 shares in the last quarter. 34.50% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Inc. (GOOG) opened at 968.45 on Tuesday. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $997.21. The company has a market cap of $671.02 billion, a PE ratio of 35.10 and a beta of 0.94. The stock has a 50 day moving average of $952.42 and a 200-day moving average of $932.52.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $25.61 billion. During the same quarter in the previous year, the firm earned $8.42 earnings per share. Alphabet’s revenue was up 21.0% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post $30.64 earnings per share for the current fiscal year.

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GOOG has been the topic of a number of research reports. MKM Partners reissued a “buy” rating and issued a $1,170.00 price objective on shares of Alphabet in a research report on Wednesday, June 28th. Cowen and Company reissued an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research report on Thursday, August 10th. Needham & Company LLC reissued a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Monday, July 17th. Robert W. Baird reissued an “outperform” rating on shares of Alphabet in a research report on Monday, July 3rd. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. One investment 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’s stock. The stock has an average rating of “Buy” and an average price target of $1,036.51.

In related news, Director Shirley M. Tilghman sold 525 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $938.09, for a total value of $492,497.25. Following the completion of the sale, the director now owns 5,517 shares in the company, valued at approximately $5,175,442.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $930.46, for a total value of $3,721,840.00. Following the completion of the sale, the chief executive officer now owns 1,764 shares of the company’s stock, valued at approximately $1,641,331.44. The disclosure for this sale can be found here. Insiders have sold 40,694 shares of company stock valued at $38,136,904 in the last three months. 13.92% of the stock is owned by insiders.

Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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