Means Investment CO. Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,006 shares of the information services provider’s stock after buying an additional 76 shares during the period. Alphabet makes up approximately 1.9% of Means Investment CO. Inc.’s portfolio, making the stock its 11th biggest position. Means Investment CO. Inc.’s holdings in Alphabet were worth $8,288,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Resolute Partners Group acquired a new stake in Alphabet during the fourth quarter worth about $26,000. ADE LLC acquired a new stake in Alphabet during the fourth quarter worth about $32,000. Chiron Capital Management LLC acquired a new stake in Alphabet during the third quarter worth about $44,000. Clearview Wealth Advisors LLC bought a new position in Alphabet in the 4th quarter worth about $44,000. Finally, Clear Perspectives Financial Planning LLC bought a new position in Alphabet in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 31.94% of the company’s stock.
Shares of NASDAQ:GOOG traded up $11.86 during mid-day trading on Thursday, hitting $2,261.54. The stock had a trading volume of 27,755 shares, compared to its average volume of 1,599,775. The company’s 50 day moving average is $2,078.40 and its 200-day moving average is $1,819.99. Alphabet Inc. has a 12-month low of $1,187.60 and a 12-month high of $2,255.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. The company has a market cap of $1.52 trillion, a PE ratio of 43.84, a P/E/G ratio of 1.66 and a beta of 0.98.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $15.91 by $6.39. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company had revenue of $56.90 billion during the quarter, compared to analyst estimates of $52.86 billion. During the same quarter in the prior year, the company earned $15.35 earnings per share. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 52.19 EPS for the current fiscal year.
In related news, CEO Sundar Pichai sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $2,068.50, for a total transaction of $6,205,500.00. Following the transaction, the chief executive officer now directly owns 6,757 shares of the company’s stock, valued at $13,976,854.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 30 shares of the company’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $2,152.94, for a total value of $64,588.20. Following the transaction, the chief accounting officer now directly owns 966 shares in the company, valued at $2,079,740.04. The disclosure for this sale can be found here. Insiders have sold 14,034 shares of company stock worth $28,870,417 over the last three months. 12.99% of the stock is owned by insiders.
Several research analysts have commented on GOOG shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Alphabet from $2,250.00 to $2,600.00 and gave the stock a “buy” rating in a research report on Wednesday, February 3rd. Citigroup restated a “buy” rating on shares of Alphabet in a research report on Friday, February 12th. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Wolfe Research assumed coverage on shares of Alphabet in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $2,450.00 target price for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. One equities research analyst has rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $2,244.11.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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