Prospera Financial Services Inc decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 1,552 shares of the company’s stock after selling 62 shares during the period. Prospera Financial Services Inc’s holdings in Alphabet were worth $1,074,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Brick & Kyle Associates raised its position in shares of Alphabet by 1.6% in the first quarter. Brick & Kyle Associates now owns 2,261 shares of the company’s stock worth $1,684,000 after buying an additional 35 shares during the period. Exane Derivatives raised its position in Alphabet by 587.9% in the first quarter. Exane Derivatives now owns 736 shares of the company’s stock valued at $548,000 after buying an additional 629 shares during the last quarter. Hyman Charles D purchased a new position in Alphabet during the first quarter valued at about $289,000. ICM Asset Management Inc. WA purchased a new position in Alphabet during the first quarter valued at about $480,000. Finally, Compton Capital Management Inc. RI raised its position in Alphabet by 1.0% in the first quarter. Compton Capital Management Inc. RI now owns 5,590 shares of the company’s stock valued at $4,164,000 after buying an additional 58 shares during the last quarter. Institutional investors own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) traded up 1.96% during midday trading on Tuesday, hitting $795.26. 2,056,903 shares of the stock traded hands. Alphabet Inc. has a 52-week low of $641.73 and a 52-week high of $801.61. The firm’s 50-day moving average is $775.62 and its 200-day moving average is $742.38. The company has a market cap of $546.56 billion, a price-to-earnings ratio of 30.81 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the consensus estimate of $8.03 by $0.39. The firm had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s quarterly 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. Analysts predict that Alphabet Inc. will post $34.14 EPS for the current year.
Several equities analysts recently issued reports on GOOG shares. Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a report on Friday, July 29th. RBC Capital Markets restated an “outperform” rating and issued a $1,025.00 target price (up previously from $1,000.00) on shares of Alphabet in a report on Friday, September 30th. Deutsche Bank AG restated a “buy” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Wednesday, October 12th. SunTrust Banks Inc. restated a “buy” rating and issued a $900.00 target price (up previously from $850.00) on shares of Alphabet in a report on Sunday, July 31st. Finally, Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 target price on the stock. in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $929.51.
In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $800.00, for a total transaction of $160,000.00. Following the sale, the director now owns 104 shares of the company’s stock, valued at $83,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the sale, the chief executive officer now directly owns 3,297 shares in the company, valued at approximately $2,437,175.37. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.
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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