Alphabet Inc. $GOOG Shares Acquired by Wendell David Associates Inc.

Wendell David Associates Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,315 shares of the information services provider’s stock after acquiring an additional 87 shares during the period. Wendell David Associates Inc.’s holdings in Alphabet were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Deutsche Bank AG increased its holdings in Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Alphabet by 2.2% in the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after buying an additional 440,526 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG stock opened at $251.34 on Wednesday. The stock’s 50-day moving average is $234.23 and its two-hundred day moving average is $194.41. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.74 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GOOG shares. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group set a $255.00 price objective on Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, Mizuho raised Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $246.26.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.