Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Monetary Management Group Inc.

Monetary Management Group Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 590 shares of the information services provider’s stock after buying an additional 25 shares during the period. Monetary Management Group Inc.’s holdings in Alphabet were worth $1,479,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. 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 valued at $9,825,819,000 after buying an additional 326,300 shares in the last quarter. Boston Family Office LLC increased its holdings in Alphabet by 0.3% in the second quarter. Boston Family Office LLC now owns 9,215 shares of the information services provider’s stock valued at $23,096,000 after buying an additional 28 shares in the last quarter. Kentucky Retirement Systems purchased a new position in Alphabet in the second quarter valued at about $41,557,000. Stockman Wealth Management Inc. increased its holdings in Alphabet by 133.7% in the second quarter. Stockman Wealth Management Inc. now owns 942 shares of the information services provider’s stock valued at $2,361,000 after buying an additional 539 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Alphabet by 16.3% in the second quarter. Bank of Montreal Can now owns 1,007,056 shares of the information services provider’s stock valued at $2,555,908,000 after buying an additional 141,435 shares in the last quarter. 31.55% of the stock is owned by institutional investors.

Alphabet stock traded down $26.93 during midday trading on Monday, hitting $2,825.73. 23,305 shares of the stock were exchanged, compared to its average volume of 1,312,541. Alphabet Inc. has a 1 year low of $1,413.34 and a 1 year high of $2,936.41. The firm has a market cap of $1.88 trillion, a P/E ratio of 30.56, a P/E/G ratio of 1.85 and a beta of 1.00. 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 price of $2,797.02 and a two-hundred day moving average price of $2,511.66.

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

In related news, major shareholder Capitalg 2014 Lp sold 356,152 shares of the stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $102.00, for a total transaction of $36,327,504.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Page sold 13,889 shares of the stock in a transaction dated Tuesday, September 21st. The stock was sold at an average price of $2,798.10, for a total transaction of $38,862,810.90. The disclosure for this sale can be found here. Insiders sold 478,378 shares of company stock valued at $373,253,187 over the last three months. Insiders own 12.99% of the company’s stock.

GOOG has been the subject of a number of recent research reports. Needham & Company LLC raised their price objective on shares of Alphabet from $2,700.00 to $3,200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. KGI Securities initiated coverage on shares of Alphabet in a research note on Wednesday, June 2nd. They set an “outperform” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $2,875.00 to $3,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Oppenheimer raised their target price on shares of Alphabet from $2,510.00 to $3,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Finally, Canaccord Genuity raised their target price on shares of Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Three analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $3,087.17.

Alphabet Company Profile

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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