Bank of New York Mellon Corp Acquires 27,153 Shares of Alphabet Inc (GOOG)

Bank of New York Mellon Corp raised its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,644,595 shares of the information services provider’s stock after purchasing an additional 27,153 shares during the period. Alphabet makes up about 1.1% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 7th largest holding. Bank of New York Mellon Corp owned 0.52% of Alphabet worth $4,066,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. IMS Capital Management lifted its position in Alphabet by 2.9% during the second quarter. IMS Capital Management now owns 1,465 shares of the information services provider’s stock valued at $1,634,000 after purchasing an additional 41 shares in the last quarter. Intl Fcstone Inc. lifted its position in Alphabet by 13.8% during the second quarter. Intl Fcstone Inc. now owns 347 shares of the information services provider’s stock valued at $387,000 after purchasing an additional 42 shares in the last quarter. Security National Trust Co. lifted its position in Alphabet by 1.9% during the second quarter. Security National Trust Co. now owns 2,229 shares of the information services provider’s stock valued at $2,487,000 after purchasing an additional 42 shares in the last quarter. Providence First Trust Co lifted its position in Alphabet by 2.7% during the second quarter. Providence First Trust Co now owns 1,581 shares of the information services provider’s stock valued at $1,764,000 after purchasing an additional 42 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in Alphabet by 0.6% during the second quarter. Synovus Financial Corp now owns 6,787 shares of the information services provider’s stock valued at $7,565,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 34.18% of the company’s stock.

In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $1,198.47, for a total transaction of $11,984,700.00. Following the sale, the chief executive officer now directly owns 574 shares of the company’s stock, valued at $687,921.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 724 shares of Alphabet stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $1,250.30, for a total value of $905,217.20. Following the completion of the sale, the director now directly owns 442 shares in the company, valued at $552,632.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,680 shares of company stock worth $99,664,675. Insiders own 13.11% of the company’s stock.

NASDAQ:GOOG opened at $1,110.08 on Friday. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. The stock has a market cap of $830.59 billion, a price-to-earnings ratio of 29.15 and a beta of 1.11. Alphabet Inc has a 52 week low of $960.52 and a 52 week high of $1,273.89.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the Zacks’ consensus estimate of $9.66 by $2.09. The business had revenue of $32.66 billion for the quarter, compared to analysts’ expectations of $32.13 billion. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. The business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period last year, the firm earned $5.01 earnings per share.

Several equities analysts recently weighed in on the company. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 26th. Raymond James reiterated an “outperform” rating and set a $1,405.00 target price (up from $1,240.00) on shares of Alphabet in a research report on Tuesday, July 24th. Royal Bank of Canada lifted their target price on Alphabet from $1,285.00 to $1,400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Nomura reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,311.71.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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