Welch Capital Partners LLC NY increased its position in Alphabet Inc (NASDAQ:GOOG) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,947 shares of the information services provider’s stock after acquiring an additional 475 shares during the period. Alphabet makes up about 3.7% of Welch Capital Partners LLC NY’s investment portfolio, making the stock its 4th biggest position. Welch Capital Partners LLC NY’s holdings in Alphabet were worth $10,752,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nkcfo LLC bought a new position in Alphabet in the 4th quarter valued at $828,000. CAPROCK Group Inc. boosted its stake in shares of Alphabet by 12.7% in the fourth quarter. CAPROCK Group Inc. now owns 1,378 shares of the information services provider’s stock worth $1,427,000 after acquiring an additional 155 shares during the last quarter. Private Vista LLC boosted its stake in shares of Alphabet by 3.3% in the fourth quarter. Private Vista LLC now owns 472 shares of the information services provider’s stock worth $489,000 after acquiring an additional 15 shares during the last quarter. Ledyard National Bank boosted its stake in shares of Alphabet by 1.3% in the fourth quarter. Ledyard National Bank now owns 5,270 shares of the information services provider’s stock worth $5,458,000 after acquiring an additional 69 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Alphabet by 2.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 23,627 shares of the information services provider’s stock worth $24,468,000 after acquiring an additional 538 shares during the last quarter. Institutional investors and hedge funds own 33.98% of the company’s stock.
NASDAQ:GOOG traded up $8.14 on Thursday, reaching $1,172.43. The company’s stock had a trading volume of 24,357 shares, compared to its average volume of 1,719,128. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $814.54 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. The company has a 50 day moving average of $1,155.12.
A number of analysts have recently issued reports on GOOG shares. Pivotal Research started coverage on Alphabet in a research note on Wednesday, May 29th. They issued a “hold” rating on the stock. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price objective on the stock. in a research report on Tuesday, April 30th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price objective on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Finally, Credit Suisse Group lifted their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,378.93.
In other news, major shareholder Capitalg Lp acquired 140,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $34.00 per share, for a total transaction of $4,760,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 69 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total value of $71,960.10. Following the completion of the sale, the chief accounting officer now owns 388 shares in the company, valued at approximately $404,645.20. The disclosure for this sale can be found here. Insiders sold a total of 2,123 shares of company stock worth $2,553,758 in the last quarter. 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.
Further Reading: Limitations of the P/E Growth ratio
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