HM Payson & Co. grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 67.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,299 shares of the information services provider’s stock after acquiring an additional 21,154 shares during the period. Alphabet comprises 2.1% of HM Payson & Co.’s holdings, making the stock its 10th biggest position. HM Payson & Co.’s holdings in Alphabet were worth $47,526,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC boosted its holdings in Alphabet by 87,001.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after buying an additional 1,991,465 shares in the last quarter. Sanders Capital LLC boosted its holdings in Alphabet by 37.1% during the first quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock worth $1,019,026,000 after buying an additional 324,596 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in Alphabet by 35.8% during the first quarter. Pictet Asset Management Ltd. now owns 422,437 shares of the information services provider’s stock worth $350,437,000 after buying an additional 111,292 shares in the last quarter. Arthur M. Cohen & Associates LLC purchased a new stake in Alphabet during the second quarter worth $4,914,000. Finally, Karp Capital Management Corp purchased a new stake in Alphabet during the first quarter worth $82,519,000. 34.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alphabet Inc. (NASDAQ GOOG) opened at $1,025.75 on Tuesday. Alphabet Inc. has a 1 year low of $727.54 and a 1 year high of $1,048.39. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $714,304.06, a PE ratio of 34.42 and a beta of 0.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the consensus estimate of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. During the same period in the previous year, the firm earned $9.06 EPS. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year.

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GOOG has been the topic of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,100.00 price objective (up from $1,050.00) on shares of Alphabet in a report on Tuesday, July 25th. UBS AG reaffirmed a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a report on Tuesday, July 25th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $1,220.00 price objective on shares of Alphabet in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have issued a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,047.52.

In other news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the completion of the transaction, the chief executive officer now owns 1,389 shares of the company’s stock, valued at approximately $1,287,311.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 37 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $940.67, for a total transaction of $34,804.79. Following the transaction, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $1,682,858.63. The disclosure for this sale can be found here. Insiders sold a total of 26,158 shares of company stock worth $25,062,399 over the last quarter. Insiders own 13.92% of the company’s stock.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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