Massey Quick Simon & CO. LLC Invests $450,000 in Alphabet Inc (GOOG)

Massey Quick Simon & CO. LLC bought a new position in shares of Alphabet Inc (NASDAQ:GOOG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 404 shares of the information services provider’s stock, valued at approximately $450,000.

Other large investors have also recently modified their holdings of the company. Summit Trail Advisors LLC raised its position in Alphabet by 132,719.3% in the 1st quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock valued at $18,680,000 after buying an additional 18,665,638 shares during the last quarter. Magellan Asset Management Ltd raised its position in Alphabet by 684.2% in the 1st quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock valued at $2,182,080,000 after buying an additional 1,845,160 shares during the last quarter. Private Advisor Group LLC raised its position in Alphabet by 18,323.9% in the 2nd quarter. Private Advisor Group LLC now owns 954,357 shares of the information services provider’s stock valued at $1,064,798,000 after buying an additional 949,177 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in Alphabet by 114,793.0% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 723,826 shares of the information services provider’s stock valued at $642,000 after buying an additional 723,196 shares during the last quarter. Finally, BlackRock Inc. raised its position in Alphabet by 1.9% in the 1st quarter. BlackRock Inc. now owns 19,071,440 shares of the information services provider’s stock valued at $19,677,721,000 after buying an additional 352,952 shares during the last quarter. 34.16% of the stock is currently owned by institutional investors.

A number of research firms recently commented on GOOG. Oppenheimer reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 25th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. Cowen raised their target price on Alphabet from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Friday, July 13th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Wedbush initiated coverage on Alphabet in a research report on Wednesday, October 17th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,301.81.

Shares of NASDAQ GOOG opened at $1,057.79 on Monday. Alphabet Inc has a 52 week low of $980.64 and a 52 week high of $1,273.89. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $736.09 billion, a price-to-earnings ratio of 23.80 and a beta of 1.16.

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

In other news, CEO Sundar Pichai sold 10,000 shares of Alphabet stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $1,113.91, for a total transaction of $11,139,100.00. Following the completion of the sale, the chief executive officer now owns 532 shares in the company, valued at approximately $592,600.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Amie Thuener O’toole sold 80 shares of Alphabet stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $1,073.72, for a total value of $85,897.60. Following the sale, the vice president now owns 388 shares of the company’s stock, valued at approximately $416,603.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,621 shares of company stock valued at $91,928,242. 13.11% of the stock is owned by corporate insiders.

Alphabet Company 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.

Further Reading: Google Finance Portfolio Workaround

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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