Lee Danner & Bass Inc. grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,849 shares of the information services provider’s stock after acquiring an additional 175 shares during the quarter. Alphabet comprises approximately 1.1% of Lee Danner & Bass Inc.’s holdings, making the stock its 26th largest position. Lee Danner & Bass Inc.’s holdings in Alphabet were worth $10,772,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Smart Portfolios LLC acquired a new stake in shares of Alphabet in the first quarter valued at $103,000. Braun Bostich & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter valued at $107,000. Litman Gregory Asset Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at $113,000. JJJ Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter valued at $134,000. Finally, Stelac Advisory Services LLC acquired a new stake in shares of Alphabet in the first quarter valued at $145,000. Institutional investors own 34.18% of the company’s stock.
Several brokerages have recently weighed in on GOOG. Atlantic Securities restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Robert W. Baird restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Raymond James restated an “outperform” rating and issued a $1,405.00 price objective (up previously from $1,240.00) on shares of Alphabet in a report on Tuesday, July 24th. BidaskClub lowered Alphabet from a “strong-buy” rating to a “buy” rating in a report on Friday, August 3rd. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,311.71.
In related news, CAO Amie Thuener O’toole sold 80 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $1,193.80, for a total transaction of $95,504.00. Following the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $463,194.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $1,200.04, for a total value of $12,000,400.00. Following the transaction, the chief executive officer now directly owns 857 shares in the company, valued at $1,028,434.28. The disclosure for this sale can be found here. Insiders have sold 82,680 shares of company stock worth $99,664,675 over the last three months. 13.11% of the stock is owned by insiders.
Shares of Alphabet stock opened at $1,110.08 on Friday. The firm has a market cap of $830.59 billion, a PE ratio of 29.15 and a beta of 1.11. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 12-month low of $960.52 and a 12-month high of $1,273.89.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.66 by $2.09. The company had revenue of $32.66 billion for the quarter, compared to analyst estimates of $32.13 billion. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. Alphabet’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.01 earnings per share.
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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