Sofos Investments Inc. Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

Sofos Investments Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 538 shares of the information services provider’s stock after buying an additional 30 shares during the quarter. Alphabet accounts for 1.4% of Sofos Investments Inc.’s investment portfolio, making the stock its 15th largest holding. Sofos Investments Inc.’s holdings in Alphabet were worth $3,854,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GOOG. Saban Cheryl acquired a new position in shares of Alphabet during the 2nd quarter worth $25,000. Laurel Wealth Planning LLC grew its stake in Alphabet by 450.0% in the 2nd quarter. Laurel Wealth Planning LLC now owns 11 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 9 shares during the last quarter. Corsicana & Co. acquired a new stake in Alphabet in the 2nd quarter valued at about $50,000. Selective Wealth Management Inc. grew its stake in Alphabet by 29.4% in the 2nd quarter. Selective Wealth Management Inc. now owns 22 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 5 shares during the last quarter. Finally, Anfield Capital Management LLC acquired a new stake in Alphabet in the 2nd quarter valued at about $63,000. Institutional investors own 31.55% of the company’s stock.

In other Alphabet news, SVP John Kent Walker sold 2,501 shares of the firm’s stock in a transaction on Tuesday, June 29th. The stock was sold at an average price of $2,517.43, for a total value of $6,296,092.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $3,802.28, for a total value of $760,456.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,489 shares of company stock valued at $334,390,376. 12.99% of the stock is currently owned by corporate insiders.

Shares of GOOG stock traded up $32.19 during mid-day trading on Tuesday, reaching $2,812.53. 24,743 shares of the company were exchanged, compared to its average volume of 1,321,586. Alphabet Inc. has a fifty-two week low of $1,406.55 and a fifty-two week high of $2,936.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. The company has a market capitalization of $1.88 trillion, a P/E ratio of 30.30, a P/E/G ratio of 1.85 and a beta of 1.00. The business’s 50 day simple moving average is $2,781.48 and its 200 day simple moving average is $2,490.11.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. The firm had revenue of $61.88 billion during the quarter, compared to the consensus estimate of $56.08 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The firm’s revenue was up 61.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.13 earnings per share. On average, analysts forecast that Alphabet Inc. will post 101.86 EPS for the current year.

A number of equities research analysts recently commented on GOOG shares. Barclays increased their price objective on shares of Alphabet from $3,000.00 to $3,200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Bank of America upped their target price on shares of Alphabet from $2,755.00 to $3,150.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. KeyCorp upped their target price on shares of Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Guggenheim upped their target price on shares of Alphabet from $2,850.00 to $3,140.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Finally, Morgan Stanley upped their target price on shares of Alphabet from $2,575.00 to $3,000.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $3,087.17.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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