Diligent Investors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,687 shares of the information services provider’s stock, valued at approximately $204,000.
A number of other institutional investors have also recently added to or reduced their stakes in GOOG. Mark Sheptoff Financial Planning LLC boosted its holdings in Alphabet by 142.9% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Milestone Wealth LLC raised its position in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after acquiring an additional 361 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in Alphabet during the fourth quarter worth about $48,000. GW&K Investment Management LLC acquired a new position in Alphabet during the first quarter worth about $50,000. Finally, Impact Partnership Wealth LLC acquired a new position in Alphabet during the second quarter worth about $50,000. Hedge funds and other institutional investors own 27.13% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on GOOG shares. Susquehanna lifted their target price on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Wedbush started coverage on shares of Alphabet in a research report on Monday, August 21st. They set an “outperform” rating for the company. Oppenheimer lifted their target price on shares of Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Finally, 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. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $130.94.
Alphabet Stock Performance
Shares of GOOG stock opened at $138.73 on Monday. Alphabet Inc. has a one year low of $83.45 and a one year high of $139.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The company has a 50 day moving average price of $133.39 and a 200 day moving average price of $122.45. The firm has a market capitalization of $1.75 trillion, a price-to-earnings 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 issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the business posted $1.21 earnings per share. Alphabet’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current year.
Insider Buying and Selling
In other Alphabet news, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total transaction of $26,785.00. Following the completion of the sale, the director now directly owns 4,759 shares in the company, valued at $579,408.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, insider John Kent Walker sold 35,799 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $130.54, for a total transaction of $4,673,201.46. Following the completion of the sale, the insider now directly owns 17,484 shares in the company, valued at $2,282,361.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total transaction of $26,785.00. Following the sale, the director now owns 4,759 shares of the company’s stock, valued at $579,408.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,091 shares of company stock valued at $13,527,476. Insiders own 12.99% of the company’s stock.
Alphabet 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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