Tesco Pension Investment Ltd raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,319 shares of the information services provider’s stock after buying an additional 16,464 shares during the period. Alphabet accounts for about 5.9% of Tesco Pension Investment Ltd’s holdings, making the stock its 2nd largest position. Tesco Pension Investment Ltd’s holdings in Alphabet were worth $201,119,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Shepherd Financial Partners LLC acquired a new stake in Alphabet during the fourth quarter valued at approximately $3,291,000. Worth Venture Partners LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $1,532,000. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter valued at about $2,128,163,000. Adviser Investments LLC purchased a new position in shares of Alphabet during the first quarter valued at about $1,276,000. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after buying an additional 18 shares during the last quarter. Institutional investors own 34.54% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ GOOG) traded up 0.91% during midday trading on Friday, hitting $915.52. The company’s stock had a trading volume of 694,882 shares. The firm has a market cap of $634.34 billion, a price-to-earnings ratio of 33.18 and a beta of 0.94. The firm has a 50-day moving average of $937.88 and a 200 day moving average of $888.43. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. Alphabet’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the business posted $8.42 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
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Several brokerages have issued reports on GOOG. UBS AG reissued a “buy” rating and issued a $1,050.00 target price (up from $980.00) on shares of Alphabet in a research report on Friday, April 28th. MKM Partners reissued a “buy” rating and issued a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a research report on Thursday. Cowen and Company reissued an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research report on Thursday. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,026.22.
In related news, insider Diane B. Greene sold 1,863 shares of Alphabet stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $932.38, for a total value of $1,737,023.94. Following the completion of the transaction, the insider now directly owns 77,852 shares in the company, valued at $72,587,647.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the completion of the transaction, the chief executive officer now owns 2,058 shares of the company’s stock, valued at $2,019,824.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,968 shares of company stock valued at $42,387,042. 13.92% of the stock is currently owned by company 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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