Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 217,803 shares of the information services provider’s stock after purchasing an additional 5,017 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Alphabet were worth $26,348,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. DC Investments Management LLC acquired a new position in Alphabet during the first quarter valued at $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet in the first quarter worth about $184,000. Turim 21 Investimentos Ltda. raised its position in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the period. qPULA Trading Management LP acquired a new position in shares of Alphabet in the first quarter worth about $279,000. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Alphabet by 29.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after acquiring an additional 26 shares during the period. 27.13% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Susquehanna upped their price target on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Oppenheimer upped their price target on shares of Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Wedbush began coverage on shares of Alphabet in a research report on Monday, August 21st. They set an “outperform” rating for the company. Finally, Robert W. Baird upped their price objective on shares of Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $130.94.
Alphabet Price Performance
Alphabet stock opened at $138.73 on Monday. The firm has a market cap of $1.75 trillion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $139.93. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $133.39 and its two-hundred day moving average is $122.45.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business earned $1.21 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Activity
In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 42,900 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the completion of the transaction, the insider now directly owns 10,383 shares in the company, valued at $1,417,383.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,091 shares of company stock worth $13,527,476. 12.99% of the stock is currently owned by corporate insiders.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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