Wendell David Associates Inc. maintained its position in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.
Other institutional investors also recently modified their holdings of the company. Cambridge Advisors Inc. increased its position in shares of Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock worth $226,000 after buying an additional 1 shares in the last quarter. Howland Capital Management LLC increased its position in shares of Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock worth $528,000 after buying an additional 2 shares in the last quarter. Lederer & Associates Investment Counsel CA increased its position in shares of Alphabet by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock worth $905,000 after buying an additional 4 shares in the last quarter. Hodges Capital Management Inc. increased its position in shares of Alphabet by 1.4% in the first quarter. Hodges Capital Management Inc. now owns 298 shares of the information services provider’s stock worth $247,000 after buying an additional 4 shares in the last quarter. Finally, CGOV Asset Management increased its position in shares of Alphabet by 0.4% in the first quarter. CGOV Asset Management now owns 1,405 shares of the information services provider’s stock worth $1,553,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 34.54% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 914.39 on Friday. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The firm has a market cap of $633.56 billion, a price-to-earnings ratio of 33.14 and a beta of 0.94. The stock has a 50 day moving average of $936.66 and a 200 day moving average of $889.11.
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 Thomson Reuters’ 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 firm had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same quarter last year, the firm posted $8.42 earnings per share. Alphabet’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
A number of brokerages have commented on GOOG. UBS AG restated a “buy” rating and issued a $1,050.00 target price (up from $980.00) on shares of Alphabet in a research note on Friday, April 28th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and issued a $1,000.00 target price on shares of Alphabet in a research note on Thursday, July 27th. Finally, Cowen and Company restated an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research note on Thursday. 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 issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,026.22.
In other Alphabet news, VP James Grier Campbell sold 183 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director L John Doerr sold 13,355 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 3,468 shares of the company’s stock, valued at approximately $3,245,805.24. The disclosure for this sale can be found here. Insiders sold 44,968 shares of company stock valued at $42,387,042 in the last ninety days. 13.92% of the stock is owned by corporate 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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