Alphabet Inc. (GOOG) is Callahan Advisors LLC’s 4th Largest Position

Callahan Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,719 shares of the information services provider’s stock after acquiring an additional 398 shares during the quarter. Alphabet makes up approximately 2.7% of Callahan Advisors LLC’s investment portfolio, making the stock its 4th largest position. Callahan Advisors LLC’s holdings in Alphabet were worth $12,467,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Alphabet by 0.3% in the first quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after acquiring an additional 36,864 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of Alphabet by 87,001.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after acquiring an additional 1,991,465 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Alphabet by 4.3% in the first quarter. Legal & General Group Plc now owns 1,359,262 shares of the information services provider’s stock worth $1,127,590,000 after acquiring an additional 55,875 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Alphabet by 2.7% in the second quarter. Sanders Capital LLC now owns 1,232,175 shares of the information services provider’s stock worth $1,221,079,000 after acquiring an additional 32,770 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Alphabet by 8.6% in the second quarter. Russell Investments Group Ltd. now owns 952,586 shares of the information services provider’s stock worth $865,829,000 after acquiring an additional 75,587 shares during the last quarter. 34.52% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet Inc. (GOOG) opened at 988.20 on Friday. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $997.21. The company has a 50-day moving average price of $951.53 and a 200-day moving average price of $930.09. The company has a market capitalization of $684.70 billion, a PE ratio of 35.81 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter in the prior year, the company earned $8.42 earnings per share. Alphabet’s revenue was up 21.0% on a year-over-year basis. Analysts predict that Alphabet Inc. will post $30.64 earnings per share for the current year.

In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $993.58, for a total value of $3,974,320.00. Following the transaction, the chief executive officer now owns 1,471 shares of the company’s stock, valued at $1,461,556.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Grier Campbell sold 184 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $932.38, for a total value of $171,557.92. The disclosure for this sale can be found here. In the last three months, insiders sold 40,694 shares of company stock worth $38,136,904. 13.92% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on GOOG shares. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $995.83 target price for the company in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. MKM Partners reiterated a “buy” rating and issued a $1,170.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $1,200.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Alphabet in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average price target of $1,036.51.

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About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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