Trade Report: The Alphabet Inc. (GOOG) is Eaton Vance Management’s 2nd Largest Position

The Alphabet Inc. (GOOG) is Eaton Vance Management’s 2nd Largest Position

Eaton Vance Management boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 13.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,247,386 shares of the company’s stock after buying an additional 144,525 shares during the period. Alphabet accounts for 2.5% of Eaton Vance Management’s investment portfolio, making the stock its 2nd largest position. Eaton Vance Management owned approximately 0.18% of Alphabet worth $863,316,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Bank of Montreal Can bought a new position in Alphabet during the second quarter valued at $927,982,000. Emerald Acquisition Ltd. bought a new position in Alphabet during the second quarter valued at $481,330,000. Jana Partners LLC bought a new position in Alphabet during the first quarter valued at $472,266,000. Bessemer Group Inc. bought a new position in Alphabet during the first quarter valued at $402,406,000. Finally, State Board of Administration of Florida Retirement System increased its position in Alphabet by 136.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 864,773 shares of the company’s stock valued at $603,415,000 after buying an additional 499,023 shares during the period. Hedge funds and other institutional investors own 34.39% of the company’s stock.

Alphabet Inc. (NASDAQ:GOOG) traded down 0.23% during midday trading on Friday, hitting $775.08. 933,158 shares of the stock traded hands. Alphabet Inc. has a one year low of $639.01 and a one year high of $789.87. The company’s 50 day moving average is $773.14 and its 200-day moving average is $740.29. The company has a market cap of $532.69 billion, a P/E ratio of 30.03 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating analysts’ consensus estimates of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. During the same period in the previous year, the company earned $6.99 earnings per share. Alphabet’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post $34.14 EPS for the current fiscal year.

Several research firms recently weighed in on GOOG. Credit Agricole SA reiterated a “buy” rating on shares of Alphabet in a research report on Friday, September 23rd. Moffett Nathanson reiterated a “buy” rating and set a $925.00 target price on shares of Alphabet in a research report on Friday, September 23rd. Wedbush downgraded Alphabet from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $700.00 to $800.00 in a research report on Tuesday, September 27th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $822.37 target price on the stock in a research report on Thursday, August 18th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $1,025.00 target price (up from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. One research 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 issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $926.55.

In other Alphabet news, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total value of $462,609.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ann Mather sold 115 shares of Alphabet stock in a transaction on Monday, August 1st. The shares were sold at an average price of $769.38, for a total transaction of $88,478.70. Following the completion of the transaction, the director now owns 1,656 shares in the company, valued at $1,274,093.28. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.

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