Compton Capital Management Inc. RI decreased its position in Alphabet Inc (NASDAQ:GOOG) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,836 shares of the information services provider’s stock after selling 35 shares during the quarter. Alphabet comprises about 2.7% of Compton Capital Management Inc. RI’s holdings, making the stock its 4th largest position. Compton Capital Management Inc. RI’s holdings in Alphabet were worth $6,308,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GOOG. Laurel Wealth Advisors Inc. grew its holdings in Alphabet by 7.8% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 4,752 shares of the information services provider’s stock valued at $5,136,000 after buying an additional 342 shares during the period. Giverny Capital Inc. grew its holdings in shares of Alphabet by 2.2% during the 2nd quarter. Giverny Capital Inc. now owns 35,110 shares of the information services provider’s stock worth $37,951,000 after purchasing an additional 764 shares during the period. Wesbanco Bank Inc. grew its holdings in shares of Alphabet by 0.3% during the 2nd quarter. Wesbanco Bank Inc. now owns 9,277 shares of the information services provider’s stock worth $10,028,000 after purchasing an additional 28 shares during the period. BlackRock Inc. grew its holdings in shares of Alphabet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock worth $21,839,988,000 after purchasing an additional 612,804 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 3.3% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 85,915 shares of the information services provider’s stock worth $92,866,000 after purchasing an additional 2,743 shares during the period. 33.97% of the stock is owned by hedge funds and other institutional investors.
In other Alphabet news, VP Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $1,100.52, for a total value of $75,935.88. Following the completion of the transaction, the vice president now owns 388 shares in the company, valued at approximately $427,001.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 75 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $1,200.00, for a total value of $90,000.00. Following the completion of the transaction, the director now directly owns 310 shares in the company, valued at $372,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,744 shares of company stock valued at $4,480,345. 12.99% of the stock is owned by company insiders.
GOOG has been the subject of a number of research reports. Cowen boosted their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BidaskClub cut Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 target price for the company in a report on Wednesday, July 31st. UBS Group reiterated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $1,378.93.
NASDAQ GOOG traded up $5.31 on Friday, reaching $1,239.56. The company had a trading volume of 1,146,976 shares, compared to its average volume of 1,124,673. The firm has a market capitalization of $846.06 billion, a PE ratio of 26.09, a P/E/G ratio of 1.43 and a beta of 0.98. Alphabet Inc has a 1 year low of $970.11 and a 1 year high of $1,289.27. The firm has a 50-day moving average of $1,191.99 and a 200-day moving average of $1,163.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96.
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, topping the Zacks’ consensus estimate of $11.49 by $2.72. The firm had revenue of $38.94 billion during 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%. Alphabet’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.75 EPS. As a group, sell-side analysts expect that Alphabet Inc will post 51.48 EPS for the current fiscal year.
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: Mutual Funds
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