Cable Hill Partners LLC Has $955,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Cable Hill Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 66.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381 shares of the information services provider’s stock after acquiring an additional 152 shares during the quarter. Cable Hill Partners LLC’s holdings in Alphabet were worth $955,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of Alphabet by 1.8% in the second quarter. FMR LLC now owns 8,028,176 shares of the information services provider’s stock worth $20,121,178,000 after acquiring an additional 144,042 shares during the period. Geode Capital Management LLC increased its holdings in Alphabet by 0.8% in the second quarter. Geode Capital Management LLC now owns 4,528,294 shares of the information services provider’s stock worth $11,314,477,000 after purchasing an additional 36,958 shares in the last quarter. Capital International Investors increased its holdings in Alphabet by 1.1% in the first quarter. Capital International Investors now owns 4,105,991 shares of the information services provider’s stock worth $8,493,416,000 after purchasing an additional 43,395 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Alphabet by 9.1% in the second quarter. JPMorgan Chase & Co. now owns 3,920,416 shares of the information services provider’s stock worth $9,825,819,000 after purchasing an additional 326,300 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Alphabet by 0.3% in the second quarter. Legal & General Group Plc now owns 1,818,123 shares of the information services provider’s stock worth $4,556,798,000 after purchasing an additional 5,560 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein lifted their target price on Alphabet from $3,000.00 to $3,200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Truist Securities boosted their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $2,875.00 to $3,250.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Morgan Stanley upped their price target on Alphabet from $2,575.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Finally, Canaccord Genuity upped their price target on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $3,097.60.

Shares of NASDAQ GOOG traded up $65.59 during trading on Thursday, reaching $2,823.59. 29,681 shares of the stock traded hands, compared to its average volume of 1,306,943. Alphabet Inc. has a 52-week low of $1,514.62 and a 52-week high of $2,936.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.15 and a quick ratio of 3.14. The company has a 50-day moving average of $2,807.00 and a 200-day moving average of $2,570.43. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. The business had revenue of $61.88 billion for the quarter, compared to analysts’ expectations of $56.08 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The firm’s quarterly revenue was up 61.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.13 EPS. Analysts expect that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

In other Alphabet news, Director Sergey Brin sold 13,889 shares of the company’s stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $2,798.28, for a total value of $38,865,310.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 17 shares of the company’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $2,918.99, for a total value of $49,622.83. The disclosure for this sale can be found here. Insiders have sold a total of 508,728 shares of company stock worth $459,355,508 in the last three months. 12.99% of the stock is currently owned by insiders.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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