Stoneridge Investment Partners LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,190 shares of the company’s stock after buying an additional 481 shares during the period. Stoneridge Investment Partners LLC’s holdings in Alphabet were worth $5,668,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of GOOG. D. Scott Neal Inc. increased its stake in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the period. Cacti Asset Management LLC acquired a new position in shares of Alphabet during the second quarter worth about $159,000. Stewart & Patten Co. LLC boosted its position in shares of Alphabet by 1.3% in the second quarter. Stewart & Patten Co. LLC now owns 323 shares of the company’s stock worth $224,000 after buying an additional 4 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in shares of Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock worth $229,000 after buying an additional 43 shares in the last quarter. Finally, Kanaly Trust Co boosted its position in shares of Alphabet by 3.0% in the second quarter. Kanaly Trust Co now owns 340 shares of the company’s stock worth $235,000 after buying an additional 10 shares in the last quarter. 34.39% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 1.01% during mid-day trading on Thursday, reaching $778.19. The company’s stock had a trading volume of 1,360,779 shares. The firm has a market cap of $534.83 billion, a P/E ratio of 30.15 and a beta of 1.03. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28. The firm’s 50-day moving average price is $774.16 and its 200 day moving average price is $741.30.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.03 by $0.39. The firm earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.99 EPS. On average, analysts expect that Alphabet Inc. will post $34.14 EPS for the current year.
A number of equities analysts have recently issued reports on GOOG shares. JPMorgan Chase & Co. set a $920.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Tuesday, July 12th. Pivotal Research restated a “buy” rating and issued a $1,000.00 price objective (up previously from $970.00) on shares of Alphabet in a research note on Tuesday, July 12th. Societe Generale set a $910.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Thursday, July 7th. Longbow Research started coverage on shares of Alphabet in a research note on Wednesday, July 6th. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and an average target price of $926.55.
In other Alphabet news, CEO Lawrence Page sold 33,340 shares of Alphabet stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $785.88, for a total transaction of $26,201,239.20. Following the completion of the sale, the chief executive officer now owns 20,703,788 shares of the company’s stock, valued at approximately $16,270,692,913.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sergey Brin sold 66,664 shares of Alphabet stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $785.10, for a total value of $52,337,906.40. Following the sale, the insider now directly owns 28,200 shares of the company’s stock, valued at approximately $22,139,820. The disclosure for this sale can be found here. 13.92% of the stock is owned by insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.