Today: Strs Ohio invests in Alphabet Inc. (GOOG) Shares

Today: Strs Ohio invests in Alphabet Inc. (GOOG) Shares

Strs Ohio raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 307,796 shares of the company’s stock after buying an additional 2,684 shares during the period. Alphabet comprises 0.9% of Strs Ohio’s holdings, making the stock its 12th largest position. Strs Ohio’s holdings in Alphabet were worth $213,025,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. HL Financial Services LLC boosted its position in shares of Alphabet by 5.7% in the second quarter. HL Financial Services LLC now owns 104,387 shares of the company’s stock worth $72,246,000 after buying an additional 5,644 shares in the last quarter. Stoneridge Investment Partners LLC boosted its position in shares of Alphabet by 6.2% in the second quarter. Stoneridge Investment Partners LLC now owns 8,190 shares of the company’s stock worth $5,668,000 after buying an additional 481 shares in the last quarter. Seven Bridges Advisors LLC boosted its position in shares of Alphabet by 4.4% in the second quarter. Seven Bridges Advisors LLC now owns 1,121 shares of the company’s stock worth $776,000 after buying an additional 47 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in shares of Alphabet by 1.5% in the second quarter. Douglas Lane & Associates LLC now owns 67,470 shares of the company’s stock worth $46,696,000 after buying an additional 979 shares in the last quarter. Finally, Mount Vernon Associates Inc. MD boosted its position in shares of Alphabet by 7.6% in the second quarter. Mount Vernon Associates Inc. MD now owns 2,017 shares of the company’s stock worth $1,396,000 after buying an additional 142 shares in the last quarter. 34.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% during mid-day trading on Friday, reaching $778.53. The company’s stock had a trading volume of 852,487 shares. The firm’s 50 day moving average price is $774.66 and its 200-day moving average price is $741.88. Alphabet Inc. has a 1-year low of $641.73 and a 1-year high of $792.28. The company has a market capitalization of $535.06 billion, a price-to-earnings ratio of 30.17 and a beta of 1.03.

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

A number of brokerages recently weighed in on GOOG. Sanford C. Bernstein set a $950.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, July 29th. JMP Securities set a $928.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, July 29th. Robert W. Baird set a $900.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG reissued an “outperform” rating and set a $940.00 price objective (up from $920.00) on shares of Alphabet in a report on Friday, July 29th. Finally, Atlantic Securities set a $910.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, July 29th. One investment 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 assigned a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average price target of $926.55.

In other news, CEO Lawrence Page sold 33,332 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $748.02, for a total value of $24,933,002.64. Following the sale, the chief executive officer now directly owns 30,666 shares in the company, valued at $22,938,781.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the completion of the sale, the chief executive officer now owns 3,297 shares in the company, valued at $2,437,175.37. The disclosure for this sale can be found here. 13.92% of the stock is currently 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.

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