Hartford Financial Management Inc. boosted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,302 shares of the information services provider’s stock after purchasing an additional 63 shares during the period. Hartford Financial Management Inc.’s holdings in Alphabet were worth $1,407,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1 North Wealth Services LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $34,000. TD Capital Management LLC lifted its stake in shares of Alphabet by 38.5% in the 4th quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 10 shares during the last quarter. Truehand Inc acquired a new stake in shares of Alphabet in the 4th quarter valued at $38,000. HMS Capital Management LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at $38,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Alphabet by 102,010.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56,169,241 shares during the last quarter. Hedge funds and other institutional investors own 33.98% of the company’s stock.
Several research firms recently issued reports on GOOG. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 target price for the company in a research report on Wednesday, July 31st. Pivotal Research assumed coverage on shares of Alphabet in a research report on Wednesday, May 29th. They set a “hold” rating for the company. Finally, Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price for the company. in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,378.93.
Shares of GOOG traded up $8.14 during trading hours on Thursday, reaching $1,172.43. 24,357 shares of the company traded hands, compared to its average volume of 1,719,128. The firm has a fifty day moving average of $1,155.12. The firm has a market cap of $814.54 billion, a PE ratio of 24.74, a P/E/G ratio of 1.29 and a beta of 0.96. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,289.27.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $11.75 earnings per share. Sell-side analysts predict that Alphabet Inc will post 52.1 EPS for the current fiscal year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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