Hodges Capital Management Inc. boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 46.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 872 shares of the information services provider’s stock after purchasing an additional 275 shares during the period. Hodges Capital Management Inc.’s holdings in Alphabet were worth $1,282,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Virtus ETF Advisers LLC acquired a new stake in Alphabet during the second quarter valued at approximately $38,000. Campbell Wealth Management acquired a new stake in Alphabet during the second quarter valued at approximately $41,000. Prestige Wealth Management Group LLC lifted its stake in Alphabet by 1,700.0% during the first quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 34 shares during the last quarter. Islay Capital Management LLC lifted its stake in Alphabet by 40.0% during the second quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 10 shares during the last quarter. Finally, Cedar Mountain Advisors LLC raised its holdings in shares of Alphabet by 34.4% during the second quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 11 shares during the period. 32.42% of the stock is owned by institutional investors and hedge funds.
GOOG stock opened at $1,573.01 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1,069.90 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.16 and a beta of 1.10. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,733.18. The firm has a 50 day moving average of $1,525.61 and a two-hundred day moving average of $1,436.75.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. On average, research analysts expect that Alphabet Inc will post 44.84 EPS for the current fiscal year.
A number of research firms have recently issued reports on GOOG. Robert W. Baird boosted their price target on shares of Alphabet from $1,650.00 to $1,675.00 in a report on Friday, July 31st. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a report on Friday, July 31st. KeyCorp began coverage on shares of Alphabet in a report on Monday, September 14th. They set an “overweight” rating on the stock. Barclays restated a “buy” rating on shares of Alphabet in a report on Monday, August 3rd. Finally, Pivotal Research boosted their price target on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a report on Friday, July 31st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,703.33.
In related news, Director Ann Mather sold 22 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the completion of the sale, the director now directly owns 1,134 shares of the company’s stock, valued at approximately $1,683,162.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $1,473.43, for a total transaction of $88,405.80. Following the sale, the director now directly owns 548 shares of the company’s stock, valued at $807,439.64. The disclosure for this sale can be found here. Insiders sold 142 shares of company stock valued at $213,357 over the last three months. Insiders own 12.99% of the company’s stock.
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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