Perpetual Ltd increased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 186.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,392 shares of the information services provider’s stock after purchasing an additional 44,488 shares during the quarter. Alphabet makes up 4.9% of Perpetual Ltd’s portfolio, making the stock its 2nd biggest holding. Perpetual Ltd’s holdings in Alphabet were worth $63,068,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. MPS Loria Financial Planners LLC purchased a new stake in shares of Alphabet during the second quarter worth about $478,000. Intl Fcstone Inc. purchased a new position in Alphabet during the 2nd quarter valued at approximately $722,000. Griffin Asset Management Inc. purchased a new position in Alphabet during the 2nd quarter valued at approximately $401,000. Gs Investments Inc. purchased a new position in Alphabet during the 2nd quarter valued at approximately $507,000. Finally, Aldebaran Financial Inc. grew its holdings in Alphabet by 55.6% during the 2nd quarter. Aldebaran Financial Inc. now owns 1,766 shares of the information services provider’s stock valued at $1,605,000 after buying an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 34.74% of the company’s stock.
In other Alphabet news, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $959.26, for a total transaction of $175,544.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $924.36, for a total value of $3,697,440.00. Following the transaction, the chief executive officer now owns 1,324 shares in the company, valued at $1,223,852.64. The disclosure for this sale can be found here. Insiders have sold a total of 36,900 shares of company stock worth $36,837,100 over the last 90 days. 13.92% of the stock is currently owned by company insiders.
Several equities analysts have weighed in on the company. Robert W. Baird restated an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a report on Saturday, September 23rd. JMP Securities restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. UBS restated an “overweight” rating on shares of Alphabet in a report on Thursday, August 24th. Finally, Monness Crespi & Hardt restated a “buy” rating on shares of Alphabet in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have issued a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,047.45.
Alphabet Inc (NASDAQ GOOG) opened at $1,064.19 on Friday. The company has a market capitalization of $739,400.25, a price-to-earnings ratio of 35.63 and a beta of 0.93. Alphabet Inc has a fifty-two week low of $770.41 and a fifty-two week high of $1,067.62. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the consensus estimate of $8.31 by $1.26. The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. Alphabet’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the business posted $9.06 EPS.
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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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