Ropes Wealth Advisors LLC lifted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,707 shares of the information services provider’s stock after buying an additional 89 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Alphabet were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in GOOG. CapWealth Advisors LLC grew its position in shares of Alphabet by 1.0% during the fourth quarter. CapWealth Advisors LLC now owns 3,881 shares of the information services provider’s stock worth $5,189,000 after buying an additional 39 shares in the last quarter. Vigilare Wealth Management acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $394,000. Schonfeld Strategic Advisors LLC grew its position in shares of Alphabet by 25.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 259 shares of the information services provider’s stock worth $346,000 after buying an additional 53 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Alphabet by 254.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 6,377 shares of the information services provider’s stock worth $8,526,000 after buying an additional 4,577 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Alphabet by 44.1% in the fourth quarter. Captrust Financial Advisors now owns 13,890 shares of the information services provider’s stock worth $18,993,000 after purchasing an additional 4,252 shares during the period. 32.91% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ GOOG opened at $1,565.72 on Tuesday. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,577.13. The firm’s 50-day simple moving average is $1,454.28 and its 200 day simple moving average is $1,368.88. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1,034.54 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.24 and a beta of 1.05.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The company had revenue of $41.16 billion for the quarter, compared to the consensus estimate of $40.29 billion. During the same quarter in the prior year, the firm earned $9.50 earnings per share. Alphabet’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc will post 42.06 earnings per share for the current fiscal year.
A number of equities analysts have commented on GOOG shares. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Cowen lifted their price objective on shares of Alphabet from $1,450.00 to $1,525.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Oppenheimer decreased their price objective on shares of Alphabet from $1,465.00 to $1,445.00 and set an “outperform” rating for the company in a report on Friday, April 17th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, BMO Capital Markets raised shares of Alphabet from a “market perform” rating to an “outperform” rating in a report on Monday, March 30th. Three analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,589.81.
In other Alphabet news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total value of $81,816.60. Following the sale, the director now directly owns 592 shares in the company, valued at $807,257.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 30 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $1,328.50, for a total value of $39,855.00. Following the sale, the director now owns 1,119 shares in the company, valued at approximately $1,486,591.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 242 shares of company stock worth $342,902. 12.99% of the stock is owned by company insiders.
Alphabet Company Profile
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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