Schnieders Capital Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,822 shares of the information services provider’s stock after purchasing an additional 167 shares during the quarter. Alphabet makes up approximately 1.6% of Schnieders Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Schnieders Capital Management LLC’s holdings in Alphabet were worth $3,473,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Doyle Wealth Management raised its position in shares of Alphabet by 6.7% in the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock valued at $2,891,000 after purchasing an additional 200 shares during the period. Carret Asset Management LLC raised its position in shares of Alphabet by 1.5% in the first quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock valued at $8,281,000 after purchasing an additional 145 shares during the period. Adviser Investments LLC bought a new position in shares of Alphabet in the first quarter valued at about $1,276,000. Rothschild Investment Corp IL raised its position in shares of Alphabet by 1.7% in the second quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock valued at $9,823,000 after purchasing an additional 184 shares during the period. Finally, Hartford Investment Management Co. raised its position in shares of Alphabet by 6.1% in the first quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock valued at $65,974,000 after purchasing an additional 4,602 shares during the period. 34.53% of the stock is currently owned by institutional investors.
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Alphabet Inc. (NASDAQ:GOOG) opened at 978.89 on Monday. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25. The company has a market cap of $678.25 billion, a PE ratio of 35.48 and a beta of 0.94. The stock has a 50 day moving average of $932.79 and a 200-day moving average of $918.65.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. During the same quarter in the previous year, the firm earned $8.42 earnings per share. Alphabet’s revenue was up 21.0% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
In other news, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $949.77, for a total transaction of $1,899,540.00. Following the completion of the transaction, the senior vice president now owns 1,800 shares of the company’s stock, valued at $1,709,586. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total value of $3,879,680.00. Following the transaction, the chief executive officer now directly owns 1,536 shares of the company’s stock, valued at approximately $1,489,797.12. The disclosure for this sale can be found here. Insiders have sold 42,694 shares of company stock valued at $39,941,804 in the last three months. 13.92% of the stock is owned by insiders.
Several brokerages have recently weighed in on GOOG. Canaccord Genuity lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective on the stock. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reissued a “hold” rating and issued a $980.00 price objective (down from $990.00) on shares of Alphabet in a research report on Monday, July 17th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $1,200.00 price objective on shares of Alphabet in a research report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,034.31.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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