Conestoga Capital Advisors LLC held its stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, Holdings Channel reports. The institutional investor owned 295 shares of the company’s stock at the end of the second quarter. Conestoga Capital Advisors LLC’s holdings in Alphabet were worth $204,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. D. Scott Neal Inc. boosted its position in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares in the last quarter. Cacti Asset Management LLC bought a new position in Alphabet during the second quarter worth about $159,000. Stewart & Patten Co. LLC boosted its position in Alphabet by 1.3% in the second quarter. Stewart & Patten Co. LLC now owns 323 shares of the company’s stock worth $224,000 after buying an additional 4 shares in the last quarter. Retirement Planning Group boosted its position in Alphabet by 1.5% in the first quarter. Retirement Planning Group now owns 330 shares of the company’s stock worth $246,000 after buying an additional 5 shares in the last quarter. Finally, Clarkston Capital Partners LLC boosted its position in Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock worth $229,000 after buying an additional 43 shares in the last quarter. Institutional investors own 34.39% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.29% during trading on Friday, reaching $777.29. 1,585,333 shares of the company’s stock were exchanged. The company’s 50-day moving average is $773.79 and its 200 day moving average is $738.90. The stock has a market capitalization of $534.21 billion, a PE ratio of 30.12 and a beta of 1.03. Alphabet Inc. has a 52 week low of $625.56 and a 52 week high of $789.87.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.99 earnings per share. On average, analysts forecast that Alphabet Inc. will post $34.30 earnings per share for the current year.
A number of research analysts have issued reports on GOOG shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, July 29th. RBC Capital Markets reissued an “outperform” rating and set a $1,025.00 target price (up previously from $1,000.00) on shares of Alphabet in a report on Friday. SunTrust Banks Inc. reissued a “buy” rating and set a $900.00 target price (up previously from $850.00) on shares of Alphabet in a report on Sunday, July 31st. Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 target price for the company. in a report on Tuesday, June 21st. Finally, Credit Agricole SA reissued a “buy” rating and set a $990.00 target price (up previously from $970.00) on shares of Alphabet in a report on Sunday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, forty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $925.99.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $690.94, for a total value of $2,763,760.00. Following the completion of the transaction, the chief executive officer now owns 3,672 shares of the company’s stock, valued at $2,537,131.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 115 shares of Alphabet stock in a transaction on Monday, August 1st. The stock was sold at an average price of $769.38, for a total transaction of $88,478.70. Following the completion of the transaction, the director now directly owns 1,656 shares of the company’s stock, valued at approximately $1,274,093.28. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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