Balyasny Asset Management LLC increased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 53,261.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,085 shares of the information services provider’s stock after acquiring an additional 159,785 shares during the quarter. Alphabet makes up about 0.6% of Balyasny Asset Management LLC’s portfolio, making the stock its 22nd largest position. Balyasny Asset Management LLC’s holdings in Alphabet were worth $145,474,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Perennial Advisors LLC boosted its stake in Alphabet by 8.7% during the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after acquiring an additional 260 shares in the last quarter. One Capital Management LLC raised its holdings in Alphabet by 5.0% during the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock worth $2,920,000 after buying an additional 154 shares during the last quarter. Doyle Wealth Management raised its holdings in Alphabet by 6.7% during the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after buying an additional 200 shares during the last quarter. Northeast Investment Management raised its holdings in Alphabet by 4.4% during the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after buying an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC raised its holdings in Alphabet by 0.9% during the second quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after buying an additional 220 shares during the last quarter. 34.74% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Inc (NASDAQ GOOG) opened at $1,037.05 on Monday. The firm has a market cap of $724,800.00, a PE ratio of 34.72 and a beta of 0.94. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1 year low of $770.41 and a 1 year high of $1,062.38.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.06 earnings per share.
GOOG has been the topic of several research reports. Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price objective on the stock. in a report on Wednesday, August 30th. Deutsche Bank restated a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. UBS restated a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a report on Monday, September 11th. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $1,047.45.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the completion of the transaction, the chief executive officer now owns 1,178 shares in the company, valued at $1,181,369.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ann Mather sold 38 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $959.26, for a total transaction of $36,451.88. Following the transaction, the director now owns 1,797 shares of the company’s stock, valued at approximately $1,723,790.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,396 shares of company stock valued at $38,242,981. 13.92% of the stock is owned by company insiders.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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