Yacktman Asset Management LP raised its position in shares of Alphabet Inc (NASDAQ:GOOG) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,600 shares of the information services provider’s stock after acquiring an additional 247 shares during the period. Alphabet makes up approximately 2.4% of Yacktman Asset Management LP’s investment portfolio, making the stock its 15th largest position. Yacktman Asset Management LP’s holdings in Alphabet were worth $196,293,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1 North Wealth Services LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $34,000. TD Capital Management LLC raised its position in Alphabet by 38.5% during the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 10 shares in the last quarter. Truehand Inc acquired a new position in Alphabet during the fourth quarter valued at approximately $38,000. HMS Capital Management LLC acquired a new position in Alphabet during the second quarter valued at approximately $38,000. Finally, Oregon Public Employees Retirement Fund raised its position in Alphabet by 102,010.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56,169,241 shares in the last quarter. Institutional investors own 33.98% of the company’s stock.
Shares of NASDAQ GOOG traded up $11.80 during trading on Friday, hitting $1,179.06. 61,168 shares of the company traded hands, compared to its average volume of 1,723,088. The business’s fifty day moving average is $1,156.92 and its 200 day moving average is $1,154.17. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The firm has a market capitalization of $815.26 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm had revenue of $38.94 billion for the quarter, compared to analyst estimates of $38.21 billion. During the same quarter in the prior year, the business earned $11.75 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts predict that Alphabet Inc will post 52.1 EPS for the current year.
In other Alphabet news, major shareholder Capitalg Lp bought 140,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $34.00 per share, for a total transaction of $4,760,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Amie Thuener O’toole sold 55 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $1,200.74, for a total transaction of $66,040.70. Following the completion of the sale, the vice president now owns 388 shares in the company, valued at approximately $465,887.12. The disclosure for this sale can be found here. Insiders sold a total of 2,123 shares of company stock worth $2,553,758 in the last 90 days. 12.99% of the stock is currently owned by company insiders.
GOOG has been the subject of several research analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Cowen boosted their price objective on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, April 30th. Credit Suisse Group upped their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Oppenheimer upped their price target on shares of Alphabet from $1,342.00 to $1,370.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,378.93.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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