Gradient Investments LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 43.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,838 shares of the information services provider’s stock after purchasing an additional 4,517 shares during the quarter. Alphabet comprises about 0.9% of Gradient Investments LLC’s investment portfolio, making the stock its 21st largest holding. Gradient Investments LLC’s holdings in Alphabet were worth $32,457,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Shilanski & Associates Inc. grew its stake in Alphabet by 1.8% in the first quarter. Shilanski & Associates Inc. now owns 450 shares of the information services provider’s stock valued at $1,257,000 after acquiring an additional 8 shares during the period. Minot Wealth Management LLC grew its stake in Alphabet by 3.9% in the first quarter. Minot Wealth Management LLC now owns 721 shares of the information services provider’s stock valued at $2,014,000 after acquiring an additional 27 shares during the period. Thomasville National Bank grew its stake in Alphabet by 2.0% in the first quarter. Thomasville National Bank now owns 13,586 shares of the information services provider’s stock valued at $37,946,000 after acquiring an additional 261 shares during the period. Mcrae Capital Management Inc. grew its stake in Alphabet by 6.7% in the first quarter. Mcrae Capital Management Inc. now owns 111 shares of the information services provider’s stock valued at $310,000 after acquiring an additional 7 shares during the period. Finally, InTrack Investment Management Inc grew its stake in Alphabet by 23.7% in the first quarter. InTrack Investment Management Inc now owns 919 shares of the information services provider’s stock valued at $2,568,000 after acquiring an additional 176 shares during the period. Institutional investors own 1.49% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. The Goldman Sachs Group set a $150.00 target price on Alphabet in a research note on Wednesday, July 27th. Itau BBA Securities assumed coverage on Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating for the company. JPMorgan Chase & Co. set a $140.00 price objective on Alphabet in a research report on Thursday, July 21st. Guggenheim reduced their price objective on Alphabet to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Finally, Citigroup reduced their price objective on Alphabet from $158.75 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.05.
Alphabet Price Performance
NASDAQ:GOOG opened at $103.63 on Monday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $113.75 and its two-hundred day moving average price is $119.40. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 1.68 and a beta of 1.08. Alphabet Inc. has a 12-month low of $101.86 and a 12-month high of $152.10.
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter in the prior year, the company earned $27.26 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.21 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 34,799 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the sale, the insider now owns 18,484 shares in the company, valued at $2,185,733. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John Kent Walker sold 34,799 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the transaction, the insider now owns 18,484 shares in the company, valued at $2,185,733. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 20 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold 44,536 shares of company stock worth $15,729,998 over the last 90 days. Company insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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