Donald L. Hagan LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 243.9% during the second quarter, Holdings Channel reports. The institutional investor owned 705 shares of the company’s stock after buying an additional 500 shares during the period. Donald L. Hagan LLC’s holdings in Alphabet were worth $488,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. D. Scott Neal Inc. boosted its position 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 valued at $145,000 after buying an additional 200 shares in the last quarter. Cacti Asset Management LLC bought a new position in shares of Alphabet during the second quarter valued at about $159,000. Stewart & Patten Co. LLC boosted its position in shares of Alphabet by 1.3% in the second quarter. Stewart & Patten Co. LLC now owns 323 shares of the company’s stock valued at $224,000 after buying an additional 4 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in shares of Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock valued at $229,000 after buying an additional 43 shares in the last quarter. Finally, Kanaly Trust Co boosted its position in shares of Alphabet by 3.0% in the second quarter. Kanaly Trust Co now owns 340 shares of the company’s stock valued at $235,000 after buying an additional 10 shares in the last quarter. Institutional investors own 34.39% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.23% on Friday, hitting $775.08. 933,158 shares of the stock were exchanged. The company’s 50 day moving average is $773.14 and its 200-day moving average is $740.29. The stock has a market cap of $532.69 billion, a PE ratio of 30.03 and a beta of 1.03. Alphabet Inc. has a 52-week low of $639.01 and a 52-week high of $789.87.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.03 by $0.39. The company 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%. Alphabet’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.99 earnings per share. Analysts predict that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
A number of equities research analysts have weighed in on the stock. Credit Suisse Group AG restated an “outperform” rating and issued a $940.00 price objective (up previously from $920.00) on shares of Alphabet in a report on Friday, July 29th. Evercore ISI restated a “buy” rating and issued a $830.00 price objective (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Atlantic Securities set a $910.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $760.24 price objective on the stock in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. set a $920.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the company. Alphabet has an average rating of “Buy” and an average price target of $926.55.
In other Alphabet news, CEO Lawrence Page sold 33,332 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $716.51, for a total transaction of $23,882,711.32. Following the completion of the transaction, the chief executive officer now owns 30,666 shares of the company’s stock, valued at $21,972,495.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, July 20th. The stock was 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. Company 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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