Clear Creek Financial Management LLC purchased a new position in shares of Alphabet Inc (NASDAQ:GOOG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 579 shares of the information services provider’s stock, valued at approximately $625,000.
A number of other large investors have also modified their holdings of the business. Truehand Inc purchased a new position in Alphabet in the fourth quarter valued at approximately $38,000. HMS Capital Management LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $38,000. Thor Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $56,000. Permanens Capital L.P. boosted its holdings in shares of Alphabet by 180.0% in the second quarter. Permanens Capital L.P. now owns 70 shares of the information services provider’s stock valued at $76,000 after acquiring an additional 45 shares during the period. Finally, Camarda Financial Advisors LLC boosted its holdings in shares of Alphabet by 35.1% in the second quarter. Camarda Financial Advisors LLC now owns 77 shares of the information services provider’s stock valued at $83,000 after acquiring an additional 20 shares during the period. Institutional investors own 33.79% of the company’s stock.
Several research firms have recently weighed in on GOOG. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a report on Monday. Credit Suisse Group increased their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price objective for the company in a report on Wednesday, July 31st. Benchmark reissued a “buy” rating and issued a $1,360.00 price objective (up from $1,315.00) on shares of Alphabet in a report on Friday, July 26th. Finally, BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Three analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,378.93.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $11.75 EPS. On average, analysts expect that Alphabet Inc will post 51.48 EPS for the current fiscal year.
In other news, Director John L. Hennessy sold 150 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total transaction of $183,750.00. Following the sale, the director now directly owns 276 shares of the company’s stock, valued at $338,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 39 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,100.00, for a total value of $42,900.00. Following the sale, the director now directly owns 1,797 shares in the company, valued at $1,976,700. The disclosure for this sale can be found here. Insiders have sold 3,744 shares of company stock worth $4,480,345 over the last ninety days. 12.99% of the stock is owned by insiders.
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: Quantitative Easing
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