Veritas Investment Management UK Ltd raised its position in shares of Alphabet Inc (NASDAQ:GOOG) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,083 shares of the information services provider’s stock after purchasing an additional 752 shares during the period. Alphabet comprises 3.1% of Veritas Investment Management UK Ltd’s portfolio, making the stock its 16th biggest position. Veritas Investment Management UK Ltd’s holdings in Alphabet were worth $10,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKS Advisors LLC lifted its position in shares of Alphabet by 37.5% in the fourth quarter. BKS Advisors LLC now owns 3,168 shares of the information services provider’s stock worth $3,281,000 after purchasing an additional 864 shares in the last quarter. AMF Pensionsforsakring AB raised its position in Alphabet by 40.5% during the fourth quarter. AMF Pensionsforsakring AB now owns 254,184 shares of the information services provider’s stock worth $263,235,000 after acquiring an additional 73,244 shares in the last quarter. Slow Capital Inc. raised its position in Alphabet by 4.8% during the fourth quarter. Slow Capital Inc. now owns 2,807 shares of the information services provider’s stock worth $2,907,000 after acquiring an additional 129 shares in the last quarter. MAI Capital Management raised its position in Alphabet by 5.9% during the fourth quarter. MAI Capital Management now owns 9,465 shares of the information services provider’s stock worth $9,802,000 after acquiring an additional 527 shares in the last quarter. Finally, McAdam LLC raised its position in Alphabet by 28.1% during the fourth quarter. McAdam LLC now owns 251 shares of the information services provider’s stock worth $260,000 after acquiring an additional 55 shares in the last quarter. 34.00% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:GOOG traded up $23.97 on Monday, hitting $1,201.57. The company had a trading volume of 739,954 shares, compared to its average volume of 1,740,192. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,289.27. The stock has a market cap of $809.37 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 1.28 and a beta of 0.96. The stock has a 50 day moving average price of $1,158.85 and a 200 day moving average price of $1,154.30. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. During the same period in the previous year, the company earned $11.75 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc will post 52.1 earnings per share for the current fiscal year.

In related news, VP Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $1,100.52, for a total value of $75,935.88. Following the transaction, the vice president now directly owns 388 shares in the company, valued at $427,001.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 39 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $1,100.00, for a total transaction of $42,900.00. Following the completion of the transaction, the director now owns 1,797 shares in the company, valued at $1,976,700. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,123 shares of company stock worth $2,553,758. Corporate insiders own 12.99% of the company’s stock.

Several analysts have issued reports on the stock. Oppenheimer upped their price target on shares of Alphabet from $1,342.00 to $1,370.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Bank of America reaffirmed a “buy” rating and set a $1,450.00 price target (up from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $1,378.93.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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