Schwab Charles Investment Management Inc. increased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,117,372 shares of the information services provider’s stock after buying an additional 37,604 shares during the period. Alphabet comprises about 0.9% of Schwab Charles Investment Management Inc.’s portfolio, making the stock its 11th biggest position. Schwab Charles Investment Management Inc. owned 0.16% of Alphabet worth $1,246,597,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Braun Bostich & Associates Inc. acquired a new position in Alphabet in the first quarter valued at approximately $107,000. Litman Gregory Asset Management LLC acquired a new position in Alphabet in the first quarter valued at approximately $113,000. JJJ Advisors Inc. acquired a new position in Alphabet in the second quarter valued at approximately $134,000. Stelac Advisory Services LLC acquired a new position in Alphabet in the first quarter valued at approximately $145,000. Finally, Well Done LLC acquired a new position in Alphabet in the first quarter valued at approximately $176,000. Hedge funds and other institutional investors own 34.18% of the company’s stock.
GOOG has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, June 28th. Societe Generale reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, July 6th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 10th. Nomura reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 11th. Finally, Cowen increased their price objective on Alphabet from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a report on Friday, July 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $1,311.71.
Shares of NASDAQ GOOG opened at $1,096.46 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13. Alphabet Inc has a 1-year low of $960.52 and a 1-year high of $1,273.89. The firm has a market cap of $757.17 billion, a P/E ratio of 26.57 and a beta of 1.11.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $9.66 by $2.09. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. The firm had revenue of $32.66 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same period last year, the company earned $5.01 earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis.
In related news, VP Amie Thuener O’toole sold 80 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $1,206.20, for a total transaction of $96,496.00. Following the completion of the sale, the vice president now directly owns 388 shares of the company’s stock, valued at $468,005.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 24 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $1,206.20, for a total value of $28,948.80. Following the sale, the director now directly owns 1,898 shares of the company’s stock, valued at $2,289,367.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,370 shares of company stock valued at $94,026,373. Corporate insiders own 13.11% of the company’s stock.
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.
Read More: Book Value Of Equity Per Share – BVPS Explained
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.