Reynders McVeigh Capital Management LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Reynders McVeigh Capital Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,566 shares of the information services provider’s stock after buying an additional 700 shares during the period. Alphabet accounts for approximately 1.2% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 24th largest position. Reynders McVeigh Capital Management LLC’s holdings in Alphabet were worth $8,765,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GOOG. Empirical Finance LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $115,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Alphabet during the fourth quarter valued at about $5,031,000. Iberiabank Corp increased its stake in shares of Alphabet by 2.4% in the fourth quarter. Iberiabank Corp now owns 467 shares of the information services provider’s stock valued at $360,000 after buying an additional 11 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of Alphabet by 2.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 29,831 shares of the information services provider’s stock valued at $23,024,000 after buying an additional 617 shares in the last quarter. Finally, J. Goldman & Co LP acquired a new stake in shares of Alphabet during the fourth quarter valued at about $12,658,000. 34.62% of the stock is owned by institutional investors and hedge funds.

Alphabet Inc. (GOOG) opened at 955.99 on Friday. Alphabet Inc. has a 52 week low of $688.22 and a 52 week high of $988.25. The firm has a market capitalization of $661.30 billion, a price-to-earnings ratio of 32.30 and a beta of 0.94. The firm has a 50-day moving average price of $952.24 and a 200 day moving average price of $860.20.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.38 by $0.35. The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $24.18 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company earned $7.50 EPS. On average, equities research analysts forecast that Alphabet Inc. will post $33.99 earnings per share for the current fiscal year.

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A number of equities research analysts have recently weighed in on GOOG shares. MKM Partners reissued a “buy” rating and set a $1,170.00 target price on shares of Alphabet in a report on Wednesday, June 28th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Monday, May 29th. BMO Capital Markets reissued an “outperform” rating and set a $1,005.00 target price on shares of Alphabet in a report on Monday, March 27th. Nomura reissued a “buy” rating and set a $985.00 target price on shares of Alphabet in a report on Monday, May 1st. Finally, Cowen and Company reissued an “outperform” rating and set a $1,050.00 target price on shares of Alphabet in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $993.97.

In other news, Director L John Doerr sold 13,355 shares of Alphabet stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $935.93, for a total value of $12,499,345.15. Following the sale, the director now directly owns 3,468 shares in the company, valued at approximately $3,245,805.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total value of $177,317.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,268 shares of company stock worth $42,981,057. Corporate 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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