Laurel Wealth Advisors Inc. Purchases 342 Shares of Alphabet Inc (NASDAQ:GOOG)

Laurel Wealth Advisors Inc. increased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,752 shares of the information services provider’s stock after purchasing an additional 342 shares during the quarter. Alphabet accounts for approximately 1.1% of Laurel Wealth Advisors Inc.’s investment portfolio, making the stock its 16th largest position. Laurel Wealth Advisors Inc.’s holdings in Alphabet were worth $5,136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lunia Capital LP lifted its holdings in shares of Alphabet by 135,522.5% in the fourth quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock worth $16,870,000 after acquiring an additional 16,857,647 shares during the last quarter. Investec Asset Management LTD lifted its holdings in shares of Alphabet by 2,660.9% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the information services provider’s stock worth $19,478,000 after acquiring an additional 625,018 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock worth $21,839,988,000 after acquiring an additional 612,804 shares during the last quarter. PenderFund Capital Management Ltd. lifted its holdings in shares of Alphabet by 127,265.7% in the second quarter. PenderFund Capital Management Ltd. now owns 445,780 shares of the information services provider’s stock worth $4,906,000 after acquiring an additional 445,430 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Alphabet by 129.3% in the fourth quarter. Nordea Investment Management AB now owns 723,309 shares of the information services provider’s stock worth $755,828,000 after acquiring an additional 407,812 shares during the last quarter. 33.97% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on GOOG shares. Cowen increased their target price 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. Barclays reissued a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Bank of America reissued a “buy” rating and issued a $1,450.00 target price (up previously from $1,350.00) on shares of Alphabet in a report on Friday, July 26th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 23rd. Finally, Pivotal Research began coverage on shares of Alphabet in a report on Wednesday, May 29th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,378.93.

In other Alphabet news, VP Amie Thuener O’toole sold 69 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $1,100.52, for a total transaction of $75,935.88. Following the completion of the sale, the vice president now owns 388 shares of the company’s stock, valued at approximately $427,001.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David C. Drummond sold 1,600 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1,179.44, for a total transaction of $1,887,104.00. Following the sale, the senior vice president now directly owns 44,482 shares of the company’s stock, valued at approximately $52,463,850.08. The disclosure for this sale can be found here. Insiders have sold a total of 3,744 shares of company stock valued at $4,480,345 in the last three months. Insiders own 12.99% of the company’s stock.

NASDAQ GOOG traded down $2.11 during trading hours on Friday, reaching $1,232.14. The company’s stock had a trading volume of 140,855 shares, compared to its average volume of 1,138,254. The firm has a fifty day simple moving average of $1,189.93 and a 200-day simple moving average of $1,163.30. The stock has a market cap of $836.24 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.39 and a beta of 0.98. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.75 EPS. On average, research analysts expect that Alphabet Inc will post 51.48 earnings per share for the current year.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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