Homrich & Berg Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Homrich & Berg raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,439 shares of the information services provider’s stock after purchasing an additional 52 shares during the quarter. Homrich & Berg’s holdings in Alphabet were worth $5,045,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Cigna Investments Inc. New grew its position in shares of Alphabet by 2.6% in the first quarter. Cigna Investments Inc. New now owns 10,451 shares of the information services provider’s stock valued at $21,620,000 after purchasing an additional 262 shares in the last quarter. Captrust Financial Advisors raised its stake in Alphabet by 6.5% in the fourth quarter. Captrust Financial Advisors now owns 14,964 shares of the information services provider’s stock valued at $26,215,000 after buying an additional 912 shares in the last quarter. Brave Asset Management Inc. grew its holdings in shares of Alphabet by 2.4% during the first quarter. Brave Asset Management Inc. now owns 2,706 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 64 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Alphabet by 5,763.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 49,660 shares of the information services provider’s stock worth $86,998,000 after buying an additional 48,813 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 2.6% during the first quarter. Nomura Asset Management Co. Ltd. now owns 97,241 shares of the information services provider’s stock worth $201,155,000 after buying an additional 2,483 shares during the last quarter. Institutional investors and hedge funds own 31.70% of the company’s stock.

GOOG has been the subject of several research reports. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $2,940.00 price objective for the company in a research report on Friday, July 16th. Raymond James boosted their price objective on shares of Alphabet from $2,440.00 to $2,750.00 and gave the stock an “outperform” rating in a report on Wednesday, April 28th. Wolfe Research initiated coverage on shares of Alphabet in a report on Wednesday, March 31st. They issued an “outperform” rating and a $2,450.00 price objective on the stock. Canaccord Genuity upped their target price on shares of Alphabet from $2,400.00 to $2,600.00 and gave the company a “buy” rating in a research note on Monday, April 26th. Finally, KGI Securities assumed coverage on shares of Alphabet in a research note on Wednesday, June 2nd. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $2,527.00.

In other news, CEO Sundar Pichai sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 21st. The shares were sold at an average price of $2,614.63, for a total value of $7,843,890.00. Following the completion of the sale, the chief executive officer now owns 5,182 shares in the company, valued at approximately $13,549,012.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Philipp Schindler sold 1,385 shares of the company’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $2,403.54, for a total transaction of $3,328,902.90. Following the completion of the sale, the senior vice president now owns 18,465 shares of the company’s stock, valued at approximately $44,381,366.10. The disclosure for this sale can be found here. Insiders have sold a total of 69,312 shares of company stock valued at $166,477,588 in the last three months. Insiders own 12.99% of the company’s stock.

GOOG traded up $14.52 on Thursday, hitting $2,666.53. 11,018 shares of the stock were exchanged, compared to its average volume of 960,300. Alphabet Inc. has a 12 month low of $1,406.55 and a 12 month high of $2,659.92. The company has a 50-day moving average of $2,495.21. The company has a quick ratio of 3.09, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.74 by $10.55. The business had revenue of $55.30 billion during the quarter, compared to analyst estimates of $51.40 billion. Alphabet had a net margin of 26.11% and a return on equity of 23.54%. The firm’s quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter last year, the business earned $9.87 EPS. On average, equities analysts expect that Alphabet Inc. will post 90.17 earnings per share for the current year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

See Also: Environmental, Social, and Governance (ESG) Investing

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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