Los Angeles Capital Management & Equity Research Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,575 shares of the company’s stock after buying an additional 4,538 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Alphabet were worth $43,308,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in GOOG. Gerstein Fisher raised its stake in Alphabet by 12.9% in the second quarter. Gerstein Fisher now owns 7,975 shares of the company’s stock worth $5,520,000 after buying an additional 911 shares during the period. Kidder Stephen W raised its stake in Alphabet by 13.4% in the second quarter. Kidder Stephen W now owns 423 shares of the company’s stock worth $293,000 after buying an additional 50 shares during the period. Ropes Wealth Advisors LLC raised its stake in Alphabet by 87.8% in the second quarter. Ropes Wealth Advisors LLC now owns 1,752 shares of the company’s stock worth $1,213,000 after buying an additional 819 shares during the period. Feltz Wealth PLAN Inc. acquired a new stake in Alphabet during the second quarter worth approximately $2,551,000. Finally, Norinchukin Bank The raised its stake in Alphabet by 0.7% in the second quarter. Norinchukin Bank The now owns 30,442 shares of the company’s stock worth $21,069,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 34.39% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.87% on Thursday, reaching $774.76. 870,109 shares of the company’s stock traded hands. The firm has a market cap of $532.47 billion, a P/E ratio of 30.02 and a beta of 1.03. The company’s 50-day moving average price is $774.28 and its 200 day moving average price is $738.30. Alphabet Inc. has a one year low of $599.85 and a one year high of $789.87.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. During the same period in the prior year, the firm earned $6.99 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post $34.30 EPS for the current fiscal year.
A number of research firms recently commented on GOOG. Wedbush lowered Alphabet from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $700.00 to $800.00 in a research report on Tuesday. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Tuesday. Moffett Nathanson restated a “buy” rating and set a $925.00 price target on shares of Alphabet in a research report on Friday, September 23rd. Credit Agricole SA reiterated a “buy” rating on shares of Alphabet in a research report on Friday, September 23rd. Finally, Jefferies Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, September 9th. 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’s stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $923.68.
In related news, CEO Lawrence Page sold 33,340 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $800.75, for a total value of $26,697,005.00. Following the completion of the transaction, the chief executive officer now directly owns 105,670 shares of the company’s stock, valued at approximately $84,615,252.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $52,337,906.40. Following the completion of the transaction, the insider now directly owns 28,200 shares of the company’s stock, valued at $22,139,820. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
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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