Concorde Asset Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 311 shares of the information services provider’s stock, valued at approximately $283,000.
Other hedge funds also recently bought and sold shares of the company. Empirical Finance LLC bought a new stake in Alphabet during the fourth quarter valued at $115,000. Farmers National Bank increased its stake in Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares in the last quarter. St. Johns Investment Management Company LLC increased its stake in Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares in the last quarter. Pacific Center for Financial Services bought a new stake in Alphabet during the fourth quarter valued at $142,000. Finally, Feltz Wealth PLAN Inc. bought a new stake in Alphabet during the first quarter valued at $170,000. 34.59% of the stock is owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOG) opened at 968.15 on Friday. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The company’s 50 day moving average is $948.07 and its 200 day moving average is $874.98. The firm has a market cap of $669.72 billion, a P/E ratio of 32.72 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping analysts’ consensus estimates of $7.38 by $0.35. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.50 earnings per share. Equities research analysts forecast that Alphabet Inc. will post $33.97 EPS for the current fiscal year.
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A number of equities analysts recently commented on the stock. UBS AG reissued a “buy” rating and issued a $980.00 price objective on shares of Alphabet in a research note on Monday, March 27th. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,047.63 price objective for the company. in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a research note on Wednesday. Pivotal Research reissued a “hold” rating and issued a $980.00 price objective (down previously from $990.00) on shares of Alphabet in a research note on Monday. Finally, BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $994.64.
In related news, Director L John Doerr sold 13,355 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $935.93, for a total transaction of $12,499,345.15. Following the sale, the director now owns 3,468 shares of the company’s stock, valued at $3,245,805.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the sale, the chief executive officer now directly owns 2,058 shares in the company, valued at approximately $2,019,824.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,268 shares of company stock worth $43,494,737. 13.92% of the stock is owned by insiders.
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.
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