Texas Yale Capital Corp. cut its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 49.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the information services provider’s stock after selling 3,600 shares during the period. Texas Yale Capital Corp.’s holdings in Alphabet were worth $3,999,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. 1 North Wealth Services LLC acquired a new position in Alphabet in the fourth quarter worth about $34,000. TD Capital Management LLC lifted its holdings in Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after acquiring an additional 10 shares during the last quarter. Truehand Inc bought a new position in Alphabet in the fourth quarter worth about $38,000. HMS Capital Management LLC bought a new position in Alphabet in the second quarter worth about $38,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Alphabet by 102,010.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after acquiring an additional 56,169,241 shares during the last quarter. Institutional investors own 34.02% of the company’s stock.
In other Alphabet news, major shareholder Capitalg Lp purchased 140,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $34.00 per share, for a total transaction of $4,760,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 150 shares of Alphabet stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total transaction of $183,750.00. Following the transaction, the director now owns 276 shares in the company, valued at $338,100. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,068 shares of company stock worth $2,487,718. Corporate insiders own 12.99% of the company’s stock.
Shares of GOOG traded down $35.27 during mid-day trading on Monday, reaching $1,158.72. 1,026,406 shares of the company’s stock traded hands, compared to its average volume of 1,572,682. The firm’s 50-day simple moving average is $1,136.03. The company has a market cap of $806.55 billion, a PE ratio of 24.39, a P/E/G ratio of 1.32 and a beta of 0.96. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12 month low of $970.11 and a 12 month high of $1,289.27.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The company had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $11.75 earnings per share. As a group, analysts expect that Alphabet Inc will post 52.1 EPS for the current fiscal year.
GOOG has been the topic of a number of recent research reports. Bank of America reissued a “buy” rating and issued a $1,450.00 target price (up previously from $1,350.00) on shares of Alphabet in a report on Friday, July 26th. Credit Suisse Group raised their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wedbush raised their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Finally, Cowen raised their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,373.93.
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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