Morningstar Investment Services LLC lowered its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 0.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,091 shares of the information services provider’s stock after selling 783 shares during the quarter. Alphabet comprises 1.9% of Morningstar Investment Services LLC’s portfolio, making the stock its 11th largest holding. Morningstar Investment Services LLC’s holdings in Alphabet were worth $117,305,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Campbell Wealth Management acquired a new position in shares of Alphabet during the 2nd quarter worth about $41,000. Prestige Wealth Management Group LLC increased its position in Alphabet by 1,700.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the period. Cordasco Financial Network lifted its holdings in shares of Alphabet by 32.1% during the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after buying an additional 9 shares during the last quarter. New England Investment & Retirement Group Inc. acquired a new position in shares of Alphabet during the first quarter worth approximately $44,000. Finally, Paragon Capital Management LLC bought a new stake in shares of Alphabet in the first quarter valued at approximately $47,000. 32.91% of the stock is currently owned by institutional investors.
In related news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $1,495.85, for a total transaction of $89,751.00. Following the completion of the sale, the director now directly owns 664 shares of the company’s stock, valued at $993,244.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann Mather sold 32 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the transaction, the director now owns 1,119 shares in the company, valued at $1,587,178.41. The disclosure for this sale can be found here. Insiders sold a total of 212 shares of company stock valued at $303,047 over the last three months. Insiders own 12.99% of the company’s stock.
GOOG traded down $48.49 during trading on Friday, hitting $1,482.96. The company’s stock had a trading volume of 3,429,036 shares, compared to its average volume of 1,408,813. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1,012.30 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The firm’s 50 day moving average price is $1,474.19 and its two-hundred day moving average price is $1,377.20. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,586.99.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. The business had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. On average, sell-side analysts forecast that Alphabet Inc will post 42.07 earnings per share for the current year.
Several equities analysts recently commented on GOOG shares. Susquehanna Bancshares upped their target price on shares of Alphabet from $1,550.00 to $1,800.00 in a research note on Wednesday, April 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price target on Alphabet from $1,505.00 to $1,700.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Oppenheimer raised their price objective on Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Barclays boosted their price objective on Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $1,671.00.
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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