Veritas Investment Management UK Ltd increased its position in Alphabet Inc. (NASDAQ:GOOG) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 13,836 shares of the company’s stock after buying an additional 751 shares during the period. Alphabet makes up 4.4% of Veritas Investment Management UK Ltd’s holdings, making the stock its 12th largest position. Veritas Investment Management UK Ltd’s holdings in Alphabet were worth $9,576,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Equity Management bought a new stake in Alphabet during the second quarter worth about $121,000. Whitnell & Co. boosted 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. boosted 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 bought a new stake in shares of Alphabet during the second quarter worth $159,000. Finally, Taylor Cottrill Erickson & Associates Inc. bought a new stake in shares of Alphabet during the second quarter worth $208,000. 34.39% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 782.31 on Friday. The company has a market cap of $537.66 billion, a P/E ratio of 30.31 and a beta of 1.03. Alphabet Inc. has a 12-month low of $641.73 and a 12-month high of $792.28. The company has a 50-day moving average price of $774.40 and a 200-day moving average price of $741.56.
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, beating the Thomson Reuters’ consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same quarter last year, the company posted $6.99 EPS. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post $34.14 earnings per share for the current year.
A number of research firms recently issued reports on GOOG. Credit Agricole SA reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, September 23rd. Deutsche Bank AG reaffirmed a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a report on Wednesday. Macquarie reaffirmed an “outperform” rating and set a $975.00 target price on shares of Alphabet in a report on Wednesday, October 5th. RBC Capital Markets reaffirmed an “outperform” rating and set a $1,025.00 target price (up from $1,000.00) on shares of Alphabet in a report on Friday, September 30th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $926.55.
In other Alphabet news, Director Ann Mather sold 43 shares of Alphabet stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $773.49, for a total transaction of $33,260.07. Following the transaction, the director now directly owns 1,656 shares of the company’s stock, valued at approximately $1,280,899.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $767.18, for a total value of $462,609.54. The disclosure for this sale can be found here. Corporate 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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