Alphabet Inc (NASDAQ:GOOG) Shares Purchased by Stewart Asset Management LLC

Stewart Asset Management LLC raised its holdings in Alphabet Inc (NASDAQ:GOOG) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,243 shares of the information services provider’s stock after acquiring an additional 435 shares during the quarter. Alphabet makes up about 7.1% of Stewart Asset Management LLC’s portfolio, making the stock its 4th largest holding. Stewart Asset Management LLC’s holdings in Alphabet were worth $8,825,000 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. Engrave Wealth Partners LLC grew its holdings in shares of Alphabet by 15.9% in the second quarter. Engrave Wealth Partners LLC now owns 51 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 7 shares in the last quarter. Charles Schwab Trust Co lifted its holdings in Alphabet by 2.2% in the second quarter. Charles Schwab Trust Co now owns 325 shares of the information services provider’s stock valued at $459,000 after acquiring an additional 7 shares during the period. Capital Planning Advisors LLC lifted its holdings in Alphabet by 1.0% in the second quarter. Capital Planning Advisors LLC now owns 740 shares of the information services provider’s stock valued at $1,046,000 after acquiring an additional 7 shares during the period. Capital Financial Planning LLC lifted its holdings in Alphabet by 2.6% in the second quarter. Capital Financial Planning LLC now owns 278 shares of the information services provider’s stock valued at $393,000 after acquiring an additional 7 shares during the period. Finally, Wealth Advisors of Iowa LLC raised its stake in shares of Alphabet by 2.2% during the 2nd quarter. Wealth Advisors of Iowa LLC now owns 328 shares of the information services provider’s stock worth $464,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 32.42% of the company’s stock.

In other news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $1,434.85, for a total value of $86,091.00. Following the transaction, the director now owns 629 shares of the company’s stock, valued at approximately $902,520.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.99% of the stock is owned by corporate insiders.

GOOG has been the subject of several research analyst reports. Pivotal Research upped their target price on Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Oppenheimer upped their target price on Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, August 3rd. Finally, Zacks Investment Research raised Alphabet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,688.62.

NASDAQ:GOOG traded down $86.44 during trading hours on Thursday, hitting $1,641.84. The company had a trading volume of 3,098,111 shares, compared to its average volume of 1,983,894. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $1,538.48 and a 200 day moving average of $1,390.53. The company has a market cap of $1,129.55 billion, a P/E ratio of 36.11, a P/E/G ratio of 2.29 and a beta of 1.07. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,733.18.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. On average, analysts forecast that Alphabet Inc will post 44.74 earnings per share for the current 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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