Pictet Asset Management Ltd. Raises Stake in Alphabet Inc. (GOOG)

Pictet Asset Management Ltd. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 35.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 422,437 shares of the information services provider’s stock after buying an additional 111,292 shares during the period. Alphabet accounts for 1.1% of Pictet Asset Management Ltd.’s holdings, making the stock its 5th largest position. Pictet Asset Management Ltd. owned approximately 0.06% of Alphabet worth $350,437,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Freestone Capital Holdings LLC bought a new stake in Alphabet during the fourth quarter valued at $240,000. Bienville Capital Management LLC boosted its stake in Alphabet by 8.1% in the fourth quarter. Bienville Capital Management LLC now owns 868 shares of the information services provider’s stock valued at $670,000 after buying an additional 65 shares during the period. Discovery Capital Management LLC CT bought a new stake in Alphabet during the fourth quarter valued at $104,744,000. Quest Investment Management Inc. OR boosted its stake in Alphabet by 4.9% in the fourth quarter. Quest Investment Management Inc. OR now owns 30,217 shares of the information services provider’s stock valued at $23,322,000 after buying an additional 1,423 shares during the period. Finally, Moloney Securities Asset Management LLC bought a new stake in Alphabet during the fourth quarter valued at $670,000. Hedge funds and other institutional investors own 34.57% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.03% during trading on Friday, hitting $910.67. 1,342,689 shares of the company were exchanged. The firm’s 50-day moving average price is $933.52 and its 200 day moving average price is $892.51. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The firm has a market capitalization of $630.98 billion, a PE ratio of 33.00 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company earned $8.42 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post $30.60 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on GOOG shares. UBS AG reiterated a “buy” rating and issued a $1,080.00 target price on shares of Alphabet in a research report on Tuesday, July 25th. Barclays PLC reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty have given a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,030.56.

In other news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total transaction of $177,317.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director L John Doerr sold 13,556 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the sale, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. Insiders sold 47,169 shares of company stock valued at $44,206,482 over the last three months. Corporate insiders own 13.92% of the company’s stock.

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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