Wendell David Associates Inc. continued to hold its stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305 shares of the information services provider’s stock at the end of the second quarter. Wendell David Associates Inc.’s holdings in Alphabet were worth $277,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Intact Investment Management Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $332,000. Bain Capital Public Equity Management LLC purchased a new position in Alphabet during the fourth quarter valued at $2,922,000. Roundview Capital LLC boosted its position in Alphabet by 1.4% in the fourth quarter. Roundview Capital LLC now owns 7,101 shares of the information services provider’s stock valued at $5,481,000 after buying an additional 96 shares during the last quarter. A.R.T. Advisors LLC boosted its position in Alphabet by 23.7% in the fourth quarter. A.R.T. Advisors LLC now owns 4,700 shares of the information services provider’s stock valued at $3,627,000 after buying an additional 900 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Alphabet by 0.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 73,493 shares of the information services provider’s stock valued at $56,724,000 after buying an additional 239 shares during the last quarter. 34.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ GOOG) traded down 0.8057% during trading on Wednesday, hitting $923.3306. 1,019,920 shares of the company’s stock were exchanged. Alphabet Inc. has a one year low of $727.54 and a one year high of $988.25. The firm has a 50-day moving average price of $943.18 and a 200-day moving average price of $884.16. The stock has a market cap of $639.76 billion, a P/E ratio of 33.4625 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business 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 business posted $8.42 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post $30.74 EPS for the current fiscal year.
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Several research analysts have recently weighed in on GOOG shares. BMO Capital Markets cut shares of Alphabet from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $1,005.00 to $880.00 in a report on Thursday, April 6th. Barclays PLC reaffirmed an “overweight” rating on shares of Alphabet in a report on Monday, April 17th. Macquarie reaffirmed a “buy” rating and issued a $975.00 price target on shares of Alphabet in a report on Tuesday, April 18th. Cowen and Company reaffirmed an “outperform” rating and issued a $1,050.00 price target on shares of Alphabet in a report on Wednesday, April 19th. Finally, Pacific Crest reaffirmed an “overweight” rating and issued a $1,040.00 price target on shares of Alphabet in a report on Sunday, April 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating, forty have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,022.32.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $937.92, for a total transaction of $3,751,680.00. Following the completion of the transaction, the chief executive officer now owns 1,830 shares in the company, valued at approximately $1,716,393.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shirley M. Tilghman sold 250 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $931.88, for a total transaction of $232,970.00. Following the transaction, the director now owns 5,579 shares of the company’s stock, valued at approximately $5,198,958.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,542 shares of company stock valued at $38,294,486. Company insiders own 13.92% of the company’s stock.
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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