Silvercrest Asset Management Group LLC Buys 644 Shares of Alphabet Inc (NASDAQ:GOOG)

Silvercrest Asset Management Group LLC lifted its stake in Alphabet Inc (NASDAQ:GOOG) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,367 shares of the information services provider’s stock after buying an additional 644 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Alphabet were worth $84,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Alphabet by 1.2% during the second quarter. Vanguard Group Inc. now owns 22,708,312 shares of the information services provider’s stock worth $24,545,641,000 after purchasing an additional 259,979 shares in the last quarter. BlackRock Inc. grew its position in shares of Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock worth $21,839,988,000 after purchasing an additional 612,804 shares in the last quarter. Lunia Capital LP grew its position in shares of Alphabet by 135,522.5% during the fourth quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock worth $16,870,000 after purchasing an additional 16,857,647 shares in the last quarter. Northern Trust Corp grew its position in shares of Alphabet by 0.8% during the second quarter. Northern Trust Corp now owns 4,199,889 shares of the information services provider’s stock worth $4,539,702,000 after purchasing an additional 31,873 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of Alphabet by 1.4% during the second quarter. Baillie Gifford & Co. now owns 2,333,098 shares of the information services provider’s stock worth $2,521,869,000 after purchasing an additional 32,481 shares in the last quarter. 33.79% of the stock is currently owned by hedge funds and other institutional investors.

GOOG has been the subject of several research analyst reports. Pivotal Research initiated coverage on Alphabet in a research report on Wednesday, May 29th. They set a “hold” rating for the company. Wedbush increased their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Cowen increased their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays restated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Finally, Oppenheimer raised their price target on Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,378.93.



In other news, SVP David C. Drummond sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $1,215.39, for a total value of $1,944,624.00. Following the completion of the sale, the senior vice president now directly owns 44,482 shares of the company’s stock, valued at approximately $54,062,977.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amie Thuener O’toole sold 69 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $1,100.52, for a total value of $75,935.88. Following the completion of the sale, the vice president now directly owns 388 shares of the company’s stock, valued at $427,001.76. The disclosure for this sale can be found here. Insiders sold a total of 3,744 shares of company stock valued at $4,480,345 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

NASDAQ GOOG traded down $6.70 during trading on Tuesday, hitting $1,224.60. 49,157 shares of the stock traded hands, compared to its average volume of 1,147,326. The company has a market capitalization of $859.51 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 1.45 and a beta of 0.98. The firm has a 50-day simple moving average of $1,193.39 and a 200-day simple moving average of $1,165.77. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company earned $11.75 EPS. As a group, research analysts predict that Alphabet Inc will post 51.48 EPS for the current fiscal year.

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.

Further Reading: What is an economic bubble?

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.