Koshinski Asset Management Inc. lowered its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 914 shares of the information services provider’s stock after selling 48 shares during the period. Koshinski Asset Management Inc.’s holdings in Alphabet were worth $1,292,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Alphabet by 1.5% in the 1st quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock valued at $23,563,444,000 after acquiring an additional 295,467 shares during the period. State Street Corp increased its position in Alphabet by 0.8% during the 1st quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock worth $13,737,468,000 after purchasing an additional 98,084 shares in the last quarter. Capital International Investors increased its position in Alphabet by 5.0% during the 1st quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock worth $5,297,617,000 after purchasing an additional 218,823 shares in the last quarter. Geode Capital Management LLC increased its position in Alphabet by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 4,403,934 shares of the information services provider’s stock worth $5,110,389,000 after purchasing an additional 149,012 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Alphabet by 0.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,707,376 shares of the information services provider’s stock worth $4,310,974,000 after purchasing an additional 22,951 shares in the last quarter. Institutional investors own 32.91% of the company’s stock.
A number of equities analysts recently issued reports on GOOG shares. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday. Susquehanna Bancshares upped their price target on shares of Alphabet from $1,550.00 to $1,800.00 in a research report on Wednesday, April 29th. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research report on Friday. Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $1,671.00.
NASDAQ:GOOG opened at $1,482.96 on Friday. Alphabet Inc has a 52 week low of $1,013.54 and a 52 week high of $1,586.99. The firm has a 50-day moving average price of $1,474.19 and a two-hundred day moving average price of $1,377.20. The firm has a market cap of $1,045.40 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. As a group, sell-side analysts forecast that Alphabet Inc will post 42.07 earnings per share for the current year.
In other Alphabet news, Director Ann Mather sold 32 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the sale, the director now owns 1,119 shares in the company, valued at $1,587,178.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 60 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total value of $81,816.60. Following the sale, the director now owns 592 shares in the company, valued at approximately $807,257.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 212 shares of company stock worth $303,047. 12.99% of the stock is owned by company insiders.
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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