Genesee Valley Trust Co. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,919 shares of the company’s stock after buying an additional 53 shares during the period. Alphabet accounts for about 1.3% of Genesee Valley Trust Co.’s holdings, making the stock its 10th largest position. Genesee Valley Trust Co.’s holdings in Alphabet were worth $2,020,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in GOOG. D. Scott Neal Inc. boosted its position in 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 during the last quarter. Cacti Asset Management LLC bought a new position in Alphabet during the second quarter valued at approximately $159,000. Stewart & Patten Co. LLC boosted its position in 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 during the last quarter. Clarkston Capital Partners LLC boosted its position in 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 during the last quarter. Finally, Kanaly Trust Co boosted its position in 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 during the last quarter. 34.39% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.04% on Friday, reaching $778.53. The company’s stock had a trading volume of 852,487 shares. The stock has a market cap of $535.06 billion, a PE ratio of 30.17 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’s 50 day moving average price is $774.66 and its 200-day moving average price is $741.88.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 return on equity of 14.74% and a net margin of 22.00%. The company earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. During the same quarter last year, the company earned $6.99 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post $34.14 EPS for the current year.
GOOG has been the topic of several analyst reports. JPMorgan Chase & Co. set a $920.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Tuesday, July 12th. Pivotal Research reissued a “buy” rating and issued a $1,000.00 price target (up previously from $970.00) on shares of Alphabet in a report on Tuesday, July 12th. Societe Generale set a $910.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Thursday, July 7th. Longbow Research initiated coverage on shares of Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating on the stock. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average target price of $926.55.
In related news, insider Sergey Brin sold 33,332 shares of Alphabet stock in a transaction on Monday, August 1st. The stock was sold at an average price of $788.49, for a total value of $26,281,948.68. Following the completion of the sale, the insider now owns 20,151,948 shares of the company’s stock, valued at $15,889,609,478.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction on 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 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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