Wright Investors Service Inc. Raises Stock Holdings in Alphabet Inc (NASDAQ:GOOG)

Wright Investors Service Inc. boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,613 shares of the information services provider’s stock after purchasing an additional 35 shares during the quarter. Alphabet makes up 1.5% of Wright Investors Service Inc.’s holdings, making the stock its 17th largest position. Wright Investors Service Inc.’s holdings in Alphabet were worth $3,905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Bank & Trust increased its holdings in shares of Alphabet by 0.8% in the second quarter. First Bank & Trust now owns 1,025 shares of the information services provider’s stock valued at $1,108,000 after purchasing an additional 8 shares during the last quarter. Central Bank & Trust Co. increased its stake in Alphabet by 3.1% during the second quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock worth $319,000 after acquiring an additional 9 shares during the last quarter. Telos Capital Management Inc. increased its stake in Alphabet by 1.0% during the second quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock worth $996,000 after acquiring an additional 9 shares during the last quarter. TD Capital Management LLC increased its stake in Alphabet by 38.5% during the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after acquiring an additional 10 shares during the last quarter. Finally, Meristem Family Wealth LLC increased its stake in Alphabet by 1.5% during the fourth quarter. Meristem Family Wealth LLC now owns 690 shares of the information services provider’s stock worth $715,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 33.98% of the company’s stock.

Several research firms have issued reports on GOOG. Benchmark reissued a “buy” rating and set a $1,360.00 target price (up previously from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Deutsche Bank raised their target price on Alphabet from $1,400.00 to $1,475.00 and gave the stock a “buy” rating in a research note on Thursday. Cowen raised their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Credit Suisse Group raised their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Wedbush raised their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,378.93.

In related news, Director Ann Mather sold 27 shares of Alphabet stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $1,213.14, for a total value of $32,754.78. Following the completion of the transaction, the director now directly owns 1,803 shares in the company, valued at $2,187,291.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Capitalg Lp bought 140,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $34.00 per share, with a total value of $4,760,000.00. The disclosure for this purchase can be found here. Insiders sold 2,123 shares of company stock valued at $2,553,758 over the last ninety days. Insiders own 12.99% of the company’s stock.

Shares of NASDAQ GOOG traded up $7.67 during trading on Thursday, reaching $1,171.96. The stock had a trading volume of 600,402 shares, compared to its average volume of 1,719,128. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The stock has a 50-day moving average price of $1,155.12. The stock has a market capitalization of $814.54 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.29 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. During the same period in the previous year, the firm posted $11.75 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Research analysts expect that Alphabet Inc will post 52.1 earnings per share for the current fiscal year.

Alphabet Company Profile

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.

Read More: How Short Selling Works

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit