Alphabet Inc (NASDAQ:GOOG) Shares Bought by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. raised its position in Alphabet Inc (NASDAQ:GOOG) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,846 shares of the information services provider’s stock after acquiring an additional 217 shares during the period. Alphabet makes up approximately 0.9% of Galibier Capital Management Ltd.’s holdings, making the stock its 23rd biggest holding. Galibier Capital Management Ltd.’s holdings in Alphabet were worth $1,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Curbstone Financial Management Corp boosted its stake in Alphabet by 4.3% in the second quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock valued at $3,688,000 after acquiring an additional 140 shares in the last quarter. B. Riley Wealth Management Inc. lifted its stake in shares of Alphabet by 9.0% during the first quarter. B. Riley Wealth Management Inc. now owns 980 shares of the information services provider’s stock worth $1,150,000 after buying an additional 81 shares during the period. First National Bank of Hutchinson lifted its stake in shares of Alphabet by 3.7% during the fourth quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock worth $1,276,000 after buying an additional 44 shares during the period. Coronation Fund Managers Ltd. lifted its stake in shares of Alphabet by 18.8% during the second quarter. Coronation Fund Managers Ltd. now owns 14,918 shares of the information services provider’s stock worth $16,125,000 after buying an additional 2,363 shares during the period. Finally, Atlantic Union Bankshares Corp lifted its stake in shares of Alphabet by 4.2% during the second quarter. Atlantic Union Bankshares Corp now owns 699 shares of the information services provider’s stock worth $756,000 after buying an additional 28 shares during the period. Institutional investors own 33.98% of the company’s stock.

In other Alphabet news, SVP David C. Drummond sold 1,600 shares of Alphabet stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total value of $1,944,624.00. Following the completion of the transaction, the senior vice president now owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Amie Thuener O’toole sold 69 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $1,100.52, for a total transaction of $75,935.88. Following the completion of the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $427,001.76. The disclosure for this sale can be found here. Insiders sold 2,123 shares of company stock valued at $2,553,758 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Several equities research analysts have recently commented on GOOG shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 30th. UBS Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Bank of America reiterated a “buy” rating and set a $1,450.00 price objective (up from $1,350.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $1,378.93.

GOOG traded up $10.34 on Friday, reaching $1,177.60. The stock had a trading volume of 1,313,300 shares, compared to its average volume of 1,743,519. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $1,158.85 and its two-hundred day moving average price is $1,154.30. The company has a market cap of $807.32 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.28 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. During the same quarter in the previous year, the company earned $11.75 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts predict that Alphabet Inc will post 52.1 earnings per share for the current year.

About Alphabet

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.

Further Reading: Growth and Income Funds

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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