Alphabet Inc. (NASDAQ:GOOG) Stake Increased by Johnson Financial Group LLC

Johnson Financial Group LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 25.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368 shares of the information services provider’s stock after buying an additional 75 shares during the period. Alphabet makes up approximately 0.3% of Johnson Financial Group LLC’s holdings, making the stock its 28th largest position. Johnson Financial Group LLC’s holdings in Alphabet were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. Cambridge Advisors Inc. raised its position in shares of Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock worth $226,000 after buying an additional 1 shares in the last quarter. Howland Capital Management LLC raised its position in shares of Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock worth $528,000 after buying an additional 2 shares in the last quarter. Lederer & Associates Investment Counsel CA raised its position in shares of Alphabet by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock worth $905,000 after buying an additional 4 shares in the last quarter. Hodges Capital Management Inc. raised its position in shares of Alphabet by 1.4% in the first quarter. Hodges Capital Management Inc. now owns 298 shares of the information services provider’s stock worth $247,000 after buying an additional 4 shares in the last quarter. Finally, CGOV Asset Management raised its position in shares of Alphabet by 0.4% in the first quarter. CGOV Asset Management now owns 1,405 shares of the information services provider’s stock worth $1,553,000 after buying an additional 5 shares in the last quarter. 34.57% of the stock is currently owned by institutional investors.

Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.24% during trading on Friday, reaching $913.16. The company had a trading volume of 576,636 shares. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25. The stock has a market capitalization of $632.71 billion, a price-to-earnings ratio of 33.09 and a beta of 0.94. The stock has a 50 day moving average of $933.72 and a 200 day moving average of $891.73.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter last year, the company posted $8.42 earnings per share. Alphabet’s revenue was up 21.0% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post $30.60 EPS for the current year.

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GOOG has been the topic of a number of recent research reports. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Nomura restated a “buy” rating and issued a $985.00 target price on shares of Alphabet in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research note on Wednesday, June 28th. Wedbush restated an “underperform” rating and issued a $725.00 target price (up previously from $700.00) on shares of Alphabet in a research note on Saturday, April 29th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty have assigned a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,030.56.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $903.86, for a total value of $3,615,440.00. Following the sale, the chief executive officer now owns 1,911 shares in the company, valued at $1,727,276.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director L John Doerr sold 13,556 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. Insiders sold 47,169 shares of company stock worth $44,206,482 in the last three months. 13.92% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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