Carlson Capital Management increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,917 shares of the information services provider’s stock after acquiring an additional 1,065 shares during the period. Carlson Capital Management’s holdings in Alphabet were worth $1,321,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. DC Investments Management LLC acquired a new stake in Alphabet in the 1st quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $184,000. Turim 21 Investimentos Ltda. increased its position in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the period. qPULA Trading Management LP acquired a new position in shares of Alphabet in the 1st quarter worth approximately $279,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Alphabet by 29.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Wedbush assumed coverage on Alphabet in a report on Monday, August 21st. They issued an “outperform” rating on the stock. Oppenheimer lifted their target price on shares of Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Robert W. Baird lifted their target price on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Susquehanna lifted their target price on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $130.94.
Insiders Place Their Bets
In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider John Kent Walker sold 42,900 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the sale, the insider now owns 10,383 shares in the company, valued at $1,417,383.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. Insiders sold 101,091 shares of company stock valued at $13,527,476 over the last quarter. Insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
Shares of NASDAQ GOOG opened at $138.73 on Monday. The business’s 50-day moving average price is $133.39 and its two-hundred day moving average price is $122.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a one year low of $83.45 and a one year high of $139.93. The company has a market capitalization of $1.75 trillion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results 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. The business had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. Alphabet’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. Analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Alphabet Company Profile
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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