W.G. Shaheen & Associates DBA Whitney & Co grew its position in shares of Alphabet Inc (NASDAQ:GOOG) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,769 shares of the information services provider’s stock after purchasing an additional 91 shares during the period. Alphabet accounts for about 1.4% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 27th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alphabet were worth $6,236,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in GOOG. 1 North Wealth Services LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $34,000. TD Capital Management LLC lifted its holdings in shares of Alphabet by 38.5% during the 4th quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after acquiring an additional 10 shares during the period. Truehand Inc purchased a new position in shares of Alphabet during the 4th quarter worth about $38,000. HMS Capital Management LLC purchased a new position in shares of Alphabet during the 2nd quarter worth about $38,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Alphabet by 102,010.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after acquiring an additional 56,169,241 shares during the period. 34.00% of the stock is currently owned by institutional investors.
In related news, VP Amie Thuener O’toole sold 55 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total value of $66,040.70. Following the transaction, the vice president now owns 388 shares in the company, valued at $465,887.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Capitalg Lp purchased 140,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $34.00 per share, for a total transaction of $4,760,000.00. The disclosure for this purchase can be found here. Insiders sold 2,123 shares of company stock worth $2,553,758 in the last 90 days. 12.99% of the stock is currently owned by insiders.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion for the quarter, compared to analyst estimates of $38.21 billion. During the same quarter last year, the firm posted $11.75 earnings per share. Alphabet’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc will post 52.1 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the stock. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 23rd. Credit Suisse Group increased their price objective on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Deutsche Bank increased their price objective on shares of Alphabet from $1,400.00 to $1,475.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, July 13th. Finally, Benchmark reiterated a “buy” rating and set a $1,360.00 price objective (up from $1,315.00) on shares of Alphabet in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $1,378.93.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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