Alphabet Inc (GOOG) Position Boosted by Commonwealth Bank of Australia

Commonwealth Bank of Australia lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 8.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,350 shares of the information services provider’s stock after acquiring an additional 784 shares during the quarter. Commonwealth Bank of Australia’s holdings in Alphabet were worth $11,429,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Braun Bostich & Associates Inc. bought a new position in shares of Alphabet during the first quarter valued at approximately $107,000. JJJ Advisors Inc. bought a new position in shares of Alphabet during the second quarter valued at approximately $134,000. Stelac Advisory Services LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $145,000. Well Done LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $176,000. Finally, Clearwater Capital Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $189,000. Institutional investors own 34.16% of the company’s stock.

In other news, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $1,073.27, for a total value of $10,732,700.00. Following the sale, the chief executive officer now directly owns 844 shares of the company’s stock, valued at $905,839.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Amie Thuener O’toole sold 80 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $1,073.72, for a total value of $85,897.60. Following the completion of the sale, the vice president now directly owns 388 shares in the company, valued at $416,603.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,621 shares of company stock worth $102,660,942. Insiders own 13.11% of the company’s stock.

A number of equities analysts recently commented on GOOG shares. Goldman Sachs Group restated a “$1,186.96” rating on shares of Alphabet in a report on Thursday, July 19th. UBS Group reaffirmed a “$1,195.88” rating on shares of Alphabet in a research note on Wednesday, July 18th. JPMorgan Chase & Co. reaffirmed a “$1,195.88” rating on shares of Alphabet in a research note on Wednesday, July 18th. Credit Suisse Group reaffirmed a “$1,205.50” rating on shares of Alphabet in a research note on Monday, July 23rd. Finally, Macquarie reaffirmed a “$1,205.50” rating on shares of Alphabet in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,301.81.

Shares of GOOG stock opened at $1,066.15 on Friday. Alphabet Inc has a twelve month low of $980.64 and a twelve month high of $1,273.89. The firm has a market capitalization of $734.71 billion, a P/E ratio of 23.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The firm had revenue of $27.16 billion for the quarter.

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Alphabet 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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