Marco Investment Management LLC raised its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 541 shares of the information services provider’s stock after buying an additional 20 shares during the quarter. Marco Investment Management LLC’s holdings in Alphabet were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the business. Virtus ETF Advisers LLC purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $38,000. Campbell Wealth Management purchased a new stake in Alphabet during the 2nd quarter valued at $41,000. Islay Capital Management LLC lifted its holdings in shares of Alphabet by 40.0% during the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock valued at $49,000 after buying an additional 10 shares during the period. Cedar Mountain Advisors LLC lifted its holdings in shares of Alphabet by 34.4% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock valued at $61,000 after buying an additional 11 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its holdings in shares of Alphabet by 431.2% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 1,875 shares of the information services provider’s stock valued at $67,000 after buying an additional 1,522 shares during the period. 32.42% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $1,473.43, for a total value of $88,405.80. Following the sale, the director now directly owns 548 shares in the company, valued at approximately $807,439.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 22 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the completion of the sale, the director now owns 1,134 shares in the company, valued at $1,683,162.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142 shares of company stock worth $213,357. 12.99% of the stock is owned by company insiders.
A number of brokerages have issued reports on GOOG. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Mizuho lifted their price target on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, October 21st. Finally, KeyCorp began coverage on shares of Alphabet in a research report on Monday, September 14th. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,720.45.
NASDAQ:GOOG opened at $1,567.24 on Friday. The stock has a market capitalization of $1,065.98 billion, a P/E ratio of 34.47, a PEG ratio of 2.11 and a beta of 1.10. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,733.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The company has a 50 day moving average price of $1,516.08 and a 200 day moving average price of $1,465.28.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 29th. The information services provider reported $16.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.35 by $5.05. The company had revenue of $46.17 billion for the quarter, compared to analyst estimates of $42.84 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned $10.12 EPS. Research analysts forecast that Alphabet Inc will post 44.93 earnings per share for the current fiscal year.
Alphabet Company Profile
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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