John G Ullman & Associates Inc. decreased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 576 shares of the information services provider’s stock after selling 40 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Alphabet were worth $623,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. 1 North Wealth Services LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $34,000. HMS Capital Management LLC acquired a new stake in shares of Alphabet in the second quarter worth $38,000. TD Capital Management LLC increased its stake in shares of 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 period. Truehand Inc acquired a new stake in shares of Alphabet in the fourth quarter worth $38,000. Finally, Thor Advisors LLC acquired a new stake in shares of Alphabet in the first quarter worth $56,000. Institutional investors and hedge funds own 33.98% of the company’s stock.
NASDAQ GOOG traded up $10.34 during mid-day trading on Friday, reaching $1,177.60. 1,313,300 shares of the stock were exchanged, compared to its average volume of 1,743,519. The business’s 50 day moving average is $1,158.85 and its 200-day moving average is $1,154.30. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The company has a market capitalization of $807.32 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. During the same period in the prior year, the firm posted $11.75 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts predict that Alphabet Inc will post 52.1 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on GOOG. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, July 13th. Bank of America reiterated a “buy” rating and issued a $1,450.00 price objective (up previously from $1,350.00) on shares of Alphabet in a research note on Friday, July 26th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price objective on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Finally, Benchmark reiterated a “buy” rating and issued a $1,360.00 price objective (up previously from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,378.93.
In other Alphabet news, SVP David C. Drummond sold 1,600 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total transaction of $1,944,624.00. Following the transaction, the senior vice president now directly owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 69 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total transaction of $71,960.10. Following the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at $404,645.20. The disclosure for this sale can be found here. Insiders have sold 2,123 shares of company stock worth $2,553,758 over the last three months. 12.99% of the stock is currently owned by insiders.
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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