Kathmere Capital Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,686 shares of the information services provider’s stock after acquiring an additional 220 shares during the period. Kathmere Capital Management LLC’s holdings in Alphabet were worth $688,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Alphabet by 0.3% during the 1st quarter. BlackRock Inc. now owns 365,927,668 shares of the information services provider’s stock worth $38,056,478,000 after buying an additional 1,230,697 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after acquiring an additional 129,835,437 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock worth $8,631,760,000 after acquiring an additional 988,569 shares during the period. Morgan Stanley grew its position in shares of Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Alphabet by 2.9% during the first quarter. JPMorgan Chase & Co. now owns 71,490,715 shares of the information services provider’s stock worth $7,435,034,000 after purchasing an additional 2,041,609 shares during the period. 27.13% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on GOOG shares. Oppenheimer boosted their price target on Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. Robert W. Baird boosted their target price on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Wedbush started coverage on shares of Alphabet in a research report on Monday, August 21st. They set an “outperform” rating on the stock. Finally, Susquehanna boosted their price objective on shares of Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $130.94.
Alphabet Price Performance
Alphabet stock opened at $138.96 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $139.93. The stock has a market capitalization of $1.75 trillion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. The stock has a fifty day moving average of $130.22 and a 200-day moving average of $118.50.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Buying and Selling at Alphabet
In other news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $121.42, for a total transaction of $46,139.60. Following the completion of the transaction, the director now directly owns 4,700 shares in the company, valued at $570,674. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $121.42, for a total transaction of $46,139.60. Following the transaction, the director now directly owns 4,700 shares of the company’s stock, valued at approximately $570,674. The disclosure for this sale can be found here. Insiders have sold 96,092 shares of company stock worth $12,221,941 over the last quarter. Corporate insiders own 12.99% of the company’s stock.
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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