Harwood Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 24.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 486 shares of the information services provider’s stock after buying an additional 97 shares during the period. Harwood Advisory Group LLC’s holdings in Alphabet were worth $403,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of GOOG. Gerber Kawasaki Wealth & Investment Management increased its stake in shares of Alphabet by 74.4% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,254 shares of the information services provider’s stock valued at $967,000 after buying an additional 535 shares during the last quarter. ING Groep NV increased its position in shares of Alphabet by 9.2% in the fourth quarter. ING Groep NV now owns 95,740 shares of the information services provider’s stock worth $74,944,000 after buying an additional 8,049 shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in shares of Alphabet by 1.4% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 28,614 shares of the information services provider’s stock worth $22,085,000 after buying an additional 406 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $258,000. Finally, Micawber Capital LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $2,440,000. 35.04% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ GOOG) opened at 965.59 on Monday. Alphabet Inc. has a 12 month low of $663.28 and a 12 month high of $988.25. The firm has a market capitalization of $667.94 billion, a price-to-earnings ratio of 32.63 and a beta of 0.94. The company’s 50-day moving average price is $948.74 and its 200 day moving average price is $852.55.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping the Zacks’ consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The business had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $24.18 billion. During the same quarter in the previous year, the firm earned $7.50 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post $33.91 EPS for the current year.
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A number of equities analysts have issued reports on the company. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Thursday, March 9th. Mizuho reissued a “buy” rating and issued a $1,024.00 target price on shares of Alphabet in a research note on Thursday, March 23rd. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $891.70 price objective on the stock in a research report on Monday, March 20th. Instinet dropped their price objective on Alphabet from $950.00 to $925.00 and set a “buy” rating on the stock in a research report on Tuesday, March 28th. Finally, Aegis reaffirmed a “buy” rating and set a $1,011.00 price objective on shares of Alphabet in a research report on Sunday, April 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty have assigned a buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus price target of $988.37.
In related news, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $948.90, for a total transaction of $1,897,800.00. Following the transaction, the senior vice president now owns 2,800 shares of the company’s stock, valued at $2,656,920. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $955.25, for a total value of $3,821,000.00. Following the transaction, the chief executive officer now directly owns 1,683 shares in the company, valued at approximately $1,607,685.75. The disclosure for this sale can be found here. Insiders have sold 46,085 shares of company stock worth $42,307,001 in the last quarter. Insiders own 13.92% of the company’s stock.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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