Investment Management of Virginia LLC Has $258,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Investment Management of Virginia LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103 shares of the information services provider’s stock after purchasing an additional 6 shares during the quarter. Investment Management of Virginia LLC’s holdings in Alphabet were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Alphabet by 28.9% during the first quarter. JPMorgan Chase & Co. now owns 3,594,116 shares of the information services provider’s stock valued at $7,434,896,000 after purchasing an additional 804,739 shares during the period. SG Americas Securities LLC lifted its position in shares of Alphabet by 104.8% during the first quarter. SG Americas Securities LLC now owns 27,220 shares of the information services provider’s stock worth $56,308,000 after acquiring an additional 597,326 shares in the last quarter. CIBC World Markets Inc. lifted its position in shares of Alphabet by 353.4% during the first quarter. CIBC World Markets Inc. now owns 626,878 shares of the information services provider’s stock worth $1,296,779,000 after acquiring an additional 488,608 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Alphabet by 168.7% during the first quarter. Canada Pension Plan Investment Board now owns 402,007 shares of the information services provider’s stock worth $831,604,000 after acquiring an additional 252,373 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Alphabet by 18.3% in the first quarter. Jennison Associates LLC now owns 1,392,266 shares of the information services provider’s stock worth $2,880,083,000 after buying an additional 215,663 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors.

NASDAQ GOOG traded down $11.20 during mid-day trading on Wednesday, reaching $2,856.92. The stock had a trading volume of 13,732 shares, compared to its average volume of 1,313,009. Alphabet Inc. has a 1 year low of $1,406.55 and a 1 year high of $2,936.41. The stock has a market cap of $1.90 trillion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00. The company has a fifty day moving average price of $2,761.21 and a 200 day moving average price of $2,467.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The company had revenue of $61.88 billion during the quarter, compared to analyst estimates of $56.08 billion. During the same period in the previous year, the business earned $10.13 EPS. The firm’s revenue for the quarter was up 61.6% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 101.86 earnings per share for the current year.

GOOG has been the topic of a number of recent analyst reports. Canaccord Genuity increased their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, July 26th. Barclays increased their price objective on Alphabet from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. KGI Securities began coverage on Alphabet in a research note on Wednesday, June 2nd. They issued an “outperform” rating on the stock. Finally, Susquehanna Bancshares increased their target price on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $3,087.17.

In related news, Director Sergey Brin sold 13,889 shares of Alphabet stock in a transaction on Thursday, September 9th. The shares were sold at an average price of $2,876.30, for a total transaction of $39,948,930.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $3,802.28, for a total transaction of $760,456.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 461,489 shares of company stock valued at $325,800,236. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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