Old North State Trust LLC lifted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179 shares of the information services provider’s stock after purchasing an additional 21 shares during the quarter. Old North State Trust LLC’s holdings in Alphabet were worth $193,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Factory Mutual Insurance Co. boosted its stake in shares of Alphabet by 0.5% during the second quarter. Factory Mutual Insurance Co. now owns 186,562 shares of the information services provider’s stock valued at $201,656,000 after acquiring an additional 1,000 shares during the last quarter. Gradient Investments LLC boosted its stake in Alphabet by 229.9% in the 2nd quarter. Gradient Investments LLC now owns 3,903 shares of the information services provider’s stock worth $4,219,000 after buying an additional 2,720 shares during the last quarter. CenturyLink Investment Management Co boosted its stake in Alphabet by 1.1% in the 2nd quarter. CenturyLink Investment Management Co now owns 2,317 shares of the information services provider’s stock worth $2,504,000 after buying an additional 25 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Alphabet by 10.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 22,519 shares of the information services provider’s stock worth $24,341,000 after buying an additional 2,190 shares during the last quarter. Finally, Hills Bank & Trust Co. boosted its stake in Alphabet by 4.5% in the 2nd quarter. Hills Bank & Trust Co. now owns 6,250 shares of the information services provider’s stock worth $6,756,000 after buying an additional 271 shares during the last quarter. Institutional investors and hedge funds own 34.00% of the company’s stock.
A number of brokerages have issued reports on GOOG. Royal Bank of Canada set a €145.00 ($168.60) price target on Aena SME and gave the stock a “sell” rating in a research note on Tuesday, April 30th. Barclays set a $40.00 price target on Intel and gave the stock a “sell” rating in a research note on Friday. UBS Group reissued a “hold” rating and issued a $130.00 price target on shares of Continental in a research note on Wednesday, May 15th. Deutsche Bank raised their price target on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,380.07.
Shares of NASDAQ GOOG traded up $115.13 during midday trading on Friday, hitting $1,247.25. The stock had a trading volume of 210,235 shares, compared to its average volume of 1,161,612. The company has a market cap of $789.92 billion, a P/E ratio of 26.38, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,289.27. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $1,110.37.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion for the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted $11.75 EPS. On average, sell-side analysts anticipate that Alphabet Inc will post 48.43 earnings per share for the current fiscal year.
In related news, Director Ann Mather sold 39 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $1,187.53, for a total transaction of $46,313.67. Following the sale, the director now directly owns 1,797 shares in the company, valued at approximately $2,133,991.41. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $1,280.51, for a total value of $96,038.25. Following the sale, the director now owns 159 shares in the company, valued at $203,601.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 403 shares of company stock worth $461,293. Company insiders own 12.99% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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