Narwhal Capital Management raised its position in Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 11,252 shares of the company’s stock after buying an additional 10 shares during the period. Alphabet makes up approximately 2.4% of Narwhal Capital Management’s holdings, making the stock its 2nd largest position. Narwhal Capital Management’s holdings in Alphabet were worth $7,788,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of 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 worth $145,000 after buying an additional 200 shares in the last quarter. Cacti Asset Management LLC bought a new position in Alphabet during the second quarter worth $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 worth $224,000 after buying an additional 4 shares in 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 worth $229,000 after buying an additional 43 shares in 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 worth $235,000 after buying an additional 10 shares in the last quarter. 34.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 1.96% on Tuesday, reaching $795.26. The company’s stock had a trading volume of 2,056,903 shares. The firm has a market cap of $546.56 billion, a price-to-earnings ratio of 30.81 and a beta of 1.03. Alphabet Inc. has a 1-year low of $641.73 and a 1-year high of $801.61. The company’s 50 day moving average is $775.62 and its 200-day moving average is $742.38.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the consensus estimate of $8.03 by $0.39. The company earned $21.50 billion during 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%. Alphabet’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.99 earnings per share. Equities research analysts expect that Alphabet Inc. will post $34.14 EPS for the current year.
A number of research firms have weighed in on GOOG. Credit Suisse Group AG restated an “outperform” rating and issued a $940.00 price target (up previously from $920.00) on shares of Alphabet in a report on Friday, July 29th. Evercore ISI reiterated a “buy” rating and set a $830.00 target price (down from $950.00) on shares of Alphabet in a research note on Thursday, June 23rd. Atlantic Securities set a $910.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday, July 29th. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $760.24 target price for the company in a research note on Monday, June 27th. Finally, JPMorgan Chase & Co. set a $920.00 target price on Alphabet and gave the company a “buy” rating in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $929.51.
In related news, Director Ann Mather sold 43 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $773.49, for a total transaction of $33,260.07. Following the completion of the transaction, the director now directly owns 1,656 shares of the company’s stock, valued at $1,280,899.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Grier Campbell sold 603 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were 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. 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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