W.G. Shaheen & Associates DBA Whitney & Co boosted its holdings in Alphabet Inc (NASDAQ:GOOG) by 1.6% in the second quarter, HoldingsChannel.com reports. The firm owned 5,769 shares of the information services provider’s stock after acquiring an additional 91 shares during the period. Alphabet accounts for approximately 1.4% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 27th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alphabet were worth $6,236,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in GOOG. 1 North Wealth Services LLC acquired a new position in Alphabet in the fourth quarter worth $34,000. TD Capital Management LLC boosted its holdings in Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares during the period. Truehand Inc acquired a new position in Alphabet in the fourth quarter worth $38,000. HMS Capital Management LLC acquired a new position in Alphabet in the second quarter worth $38,000. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Alphabet by 102,010.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56,169,241 shares during the period. 34.00% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Capitalg Lp acquired 140,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $34.00 per share, for a total transaction of $4,760,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 27 shares of Alphabet stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $1,213.14, for a total transaction of $32,754.78. Following the sale, the director now owns 1,803 shares in the company, valued at $2,187,291.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,123 shares of company stock worth $2,553,758. Company insiders own 12.99% of the company’s stock.
Shares of NASDAQ GOOG traded down $32.94 during midday trading on Friday, reaching $1,156.59. 706,329 shares of the company traded hands, compared to its average volume of 1,712,932. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. The stock has a 50-day moving average price of $1,170.23 and a 200 day moving average price of $1,155.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The company has a market cap of $806.69 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.30 and a beta of 0.96.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. During the same period in the previous year, the business earned $11.75 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. As a group, analysts expect that Alphabet Inc will post 52.1 EPS for the current year.
GOOG has been the topic of a number of recent research reports. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 target price on the stock in a research note on Wednesday, July 31st. Stifel Nicolaus cut Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price on the stock. in a research note on Tuesday, April 30th. Wedbush raised their target price on Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Finally, Pivotal Research initiated coverage on Alphabet in a research note on Wednesday, May 29th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $1,378.93.
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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