Denver Investment Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,705 shares of the company’s stock after buying an additional 537 shares during the period. Denver Investment Advisors LLC’s holdings in Alphabet were worth $12,946,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Alphabet during the second quarter worth $121,000. Whitnell & Co. raised its stake in shares of Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares in the last quarter. D. Scott Neal Inc. raised its stake in shares of 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 purchased a new stake in shares of Alphabet during the second quarter worth approximately $159,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Alphabet during the second quarter worth approximately $210,000. Institutional investors and hedge funds own 34.39% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.73% on Monday, reaching $780.70. The company’s stock had a trading volume of 146,813 shares. Alphabet Inc. has a 52 week low of $639.01 and a 52 week high of $789.87. The company has a market capitalization of $536.55 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03. The firm’s 50 day moving average price is $773.14 and its 200-day moving average price is $740.29.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.99 EPS. On average, equities analysts predict that Alphabet Inc. will post $34.14 EPS for the current year.
A number of brokerages recently commented on GOOG. Citigroup Inc. reiterated a “buy” rating and issued a $900.00 target price on shares of Alphabet in a research report on Saturday, June 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $925.00 target price (up previously from $888.00) on shares of Alphabet in a research report on Friday, July 29th. Longbow Research began coverage on Alphabet in a research report on Wednesday, July 6th. They issued a “buy” rating on the stock. Macquarie reiterated an “outperform” rating and issued a $975.00 target price on shares of Alphabet in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 target price on Alphabet and gave the company a “buy” rating in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus target price of $926.55.
In related news, insider Sergey Brin sold 66,664 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $785.10, for a total value of $52,337,906.40. Following the sale, the insider now directly owns 28,200 shares in the company, valued at approximately $22,139,820. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 115 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $769.38, for a total value of $88,478.70. Following the completion of the sale, the director now owns 1,656 shares in the company, valued at $1,274,093.28. The disclosure for this sale can be found here. 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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