Parallel Advisors LLC Raises Position in Alphabet Inc. (GOOG)

Parallel Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,352 shares of the information services provider’s stock after buying an additional 259 shares during the quarter. Parallel Advisors LLC’s holdings in Alphabet were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its position in shares of Alphabet by 0.3% in the 1st quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after buying an additional 36,864 shares during the period. Harbour Capital Advisors LLC raised its position in shares of Alphabet by 87,001.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after buying an additional 1,991,465 shares during the period. Legal & General Group Plc raised its position in shares of Alphabet by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 1,438,707 shares of the information services provider’s stock worth $1,307,419,000 after buying an additional 79,445 shares during the period. Sanders Capital LLC raised its position in shares of Alphabet by 2.7% in the 2nd quarter. Sanders Capital LLC now owns 1,232,175 shares of the information services provider’s stock worth $1,221,079,000 after buying an additional 32,770 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Alphabet by 8.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 952,586 shares of the information services provider’s stock worth $865,829,000 after buying an additional 75,587 shares during the period. 34.43% of the stock is currently owned by institutional investors and hedge funds.

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GOOG has been the topic of several research reports. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,067.64 price objective on the stock. in a research report on Monday. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday, August 9th. BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. MKM Partners reissued a “buy” rating and issued a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,047.52.

Shares of Alphabet Inc. (GOOG) opened at $1,035.96 on Thursday. Alphabet Inc. has a twelve month low of $737.02 and a twelve month high of $1,048.39. The company has a market capitalization of $718,764.69, a P/E ratio of 34.63 and a beta of 0.95. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $27.17 billion. During the same quarter in the previous year, the company earned $9.06 earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year.

In other Alphabet news, Director Ann Mather sold 37 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $940.67, for a total value of $34,804.79. Following the transaction, the director now owns 1,789 shares of the company’s stock, valued at $1,682,858.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $1,020.69, for a total value of $4,082,760.00. Following the completion of the transaction, the chief executive officer now directly owns 949 shares in the company, valued at approximately $968,634.81. The disclosure for this sale can be found here. Insiders sold 38,394 shares of company stock worth $37,937,930 in the last ninety days. 13.92% of the stock is owned by corporate insiders.

Alphabet Company Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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