Marathon Capital Management boosted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 436 shares of the information services provider’s stock after buying an additional 5 shares during the quarter. Marathon Capital Management’s holdings in Alphabet were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Burt Wealth Advisors grew its position in shares of Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after purchasing an additional 20 shares during the last quarter. Farmers National Bank grew its position in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after purchasing an additional 21 shares during the last quarter. St. Johns Investment Management Company LLC grew its position in shares of Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after purchasing an additional 157 shares during the last quarter. Catamount Wealth Management grew its position in shares of Alphabet by 5.8% in the second quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after purchasing an additional 10 shares during the last quarter. Finally, Baker Boyer National Bank acquired a new stake in shares of Alphabet in the second quarter valued at approximately $200,000. Institutional investors own 34.74% of the company’s stock.
In other Alphabet news, VP James Grier Campbell sold 184 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $1,012.66, for a total transaction of $186,329.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP David C. Drummond sold 1,496 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the completion of the transaction, the senior vice president now directly owns 52 shares in the company, valued at approximately $48,867.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,396 shares of company stock worth $37,957,301. 13.92% of the stock is currently owned by insiders.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. Alphabet’s revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $9.06 earnings per share.
GOOG has been the topic of several research reports. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price target on the stock. in a research report on Wednesday, August 30th. Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 25th. UBS reiterated a “buy” rating and issued a $1,080.00 price target on shares of Alphabet in a research report on Monday, September 11th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Alphabet in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,047.96.
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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.
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