Bank of Montreal Can Buys 141,435 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bank of Montreal Can boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 16.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,007,056 shares of the information services provider’s stock after buying an additional 141,435 shares during the period. Alphabet makes up 1.3% of Bank of Montreal Can’s portfolio, making the stock its 10th largest holding. Bank of Montreal Can owned 0.15% of Alphabet worth $2,555,908,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Saban Cheryl acquired a new position in Alphabet in the 2nd quarter valued at about $25,000. Laurel Wealth Planning LLC boosted its holdings in Alphabet by 450.0% in the 2nd quarter. Laurel Wealth Planning LLC now owns 11 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 9 shares during the period. Corsicana & Co. bought a new stake in Alphabet in the 2nd quarter valued at about $50,000. Selective Wealth Management Inc. boosted its holdings in Alphabet by 29.4% in the 2nd quarter. Selective Wealth Management Inc. now owns 22 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 5 shares during the period. Finally, Anfield Capital Management LLC bought a new stake in Alphabet in the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 31.55% of the company’s stock.

Shares of NASDAQ GOOG opened at $2,832.43 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. Alphabet Inc. has a 52-week low of $1,413.34 and a 52-week high of $2,936.41. The firm has a 50 day moving average price of $2,797.02 and a two-hundred day moving average price of $2,511.66. The stock has a market cap of $1.89 trillion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The firm had revenue of $61.88 billion during the quarter, compared to analysts’ expectations of $56.08 billion. During the same period in the prior year, the company posted $10.13 EPS. The company’s revenue was up 61.6% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

GOOG has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Alphabet from $2,635.00 to $3,034.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. KeyCorp boosted their price objective on shares of Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Credit Suisse Group boosted their price objective on shares of Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Canaccord Genuity upped their price target on shares of Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Finally, Bank of America upped their price target on shares of Alphabet from $2,755.00 to $3,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average target price of $3,087.17.

In other news, major shareholder Capitalg 2014 Lp sold 356,152 shares of the stock in a transaction on Friday, July 30th. The shares were sold at an average price of $102.00, for a total transaction of $36,327,504.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 17 shares of the firm’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $2,918.99, for a total transaction of $49,622.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 478,378 shares of company stock valued at $373,253,187. 12.99% of the stock is currently owned by corporate insiders.

Alphabet 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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