Lehman & Derafelo Financial Resources LLC raised its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238 shares of the information services provider’s stock after acquiring an additional 30 shares during the period. Lehman & Derafelo Financial Resources LLC’s holdings in Alphabet were worth $336,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Alphabet by 1.5% in the first quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock valued at $23,563,444,000 after purchasing an additional 295,467 shares in the last quarter. State Street Corp grew its holdings in shares of Alphabet by 0.8% in the first quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock valued at $13,737,468,000 after purchasing an additional 98,084 shares in the last quarter. Capital International Investors grew its holdings in shares of Alphabet by 5.0% in the first quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock valued at $5,297,617,000 after purchasing an additional 218,823 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 3.5% in the first quarter. Geode Capital Management LLC now owns 4,403,934 shares of the information services provider’s stock valued at $5,110,389,000 after purchasing an additional 149,012 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 3,707,376 shares of the information services provider’s stock valued at $4,310,974,000 after purchasing an additional 22,951 shares in the last quarter. Institutional investors and hedge funds own 32.91% of the company’s stock.
In related news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the completion of the transaction, the director now owns 592 shares of the company’s stock, valued at $807,257.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 32 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the sale, the director now directly owns 1,119 shares of the company’s stock, valued at approximately $1,587,178.41. The disclosure for this sale can be found here. Insiders have sold 212 shares of company stock valued at $303,047 in the last ninety days. 12.99% of the stock is currently owned by company insiders.
A number of research analysts recently weighed in on GOOG shares. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a report on Friday. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. Barclays boosted their price target on shares of Alphabet from $1,600.00 to $1,800.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Finally, Susquehanna Bancshares boosted their price target on shares of Alphabet from $1,550.00 to $1,800.00 in a report on Wednesday, April 29th. Four 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 stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,671.00.
GOOG stock traded down $48.49 on Friday, hitting $1,482.96. 3,429,036 shares of the company were exchanged, compared to its average volume of 1,408,813. Alphabet Inc has a twelve month low of $1,013.54 and a twelve month high of $1,586.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The business’s fifty day moving average is $1,474.19 and its two-hundred day moving average is $1,377.20. 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.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. The firm had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Equities research analysts expect that Alphabet Inc will post 42.07 earnings per share for the current year.
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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