Todays Report: The Dimensional Fund Advisors LP Raises Stake in Alphabet Inc. (GOOG)

The Dimensional Fund Advisors LP Raises Stake in Alphabet Inc. (GOOG)

Dimensional Fund Advisors LP increased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 505,071 shares of the company’s stock after buying an additional 1,854 shares during the period. Dimensional Fund Advisors LP owned approximately 0.07% of Alphabet worth $349,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Mesirow Financial Investment Management Equity Management bought a new position in Alphabet during the second quarter worth approximately $121,000. Whitnell & Co. boosted its position in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. boosted its position in 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 bought a new position in Alphabet during the second quarter worth approximately $159,000. Finally, Taylor Cottrill Erickson & Associates Inc. bought a new position in Alphabet during the second quarter worth approximately $208,000. 34.39% of the stock is owned by hedge funds and other institutional investors.

Alphabet Inc. (NASDAQ:GOOG) opened at 778.19 on Friday. The company has a market capitalization of $534.83 billion, a P/E ratio of 30.15 and a beta of 1.03. Alphabet Inc. has a one year low of $641.73 and a one year high of $792.28. The stock’s 50 day moving average price is $774.40 and its 200-day moving average price is $741.56.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the consensus estimate of $8.03 by $0.39. The company had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. Alphabet’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the business posted $6.99 EPS. Equities analysts forecast that Alphabet Inc. will post $34.14 EPS for the current year.

A number of research analysts have recently commented on the stock. Citigroup Inc. reissued a “buy” rating and issued a $900.00 target price on shares of Alphabet in a report on Saturday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $925.00 price objective (up previously from $888.00) on shares of Alphabet in a research note on Friday, July 29th. Longbow Research initiated coverage on Alphabet in a research note on Wednesday, July 6th. They issued a “buy” rating for the company. Macquarie reaffirmed an “outperform” rating and issued a $975.00 price objective on shares of Alphabet in a research note on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus price target of $926.55.

In other Alphabet news, CEO Lawrence Page sold 33,332 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $716.51, for a total transaction of $23,882,711.32. Following the transaction, the chief executive officer now directly owns 30,666 shares in the company, valued at approximately $21,972,495.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Grier Campbell sold 603 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $767.18, for a total value of $462,609.54. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.

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