Benin Management CORP Buys 389 Shares of Alphabet Inc. $GOOG

Benin Management CORP raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the second quarter, HoldingsChannel reports. The firm owned 32,866 shares of the information services provider’s stock after purchasing an additional 389 shares during the quarter. Alphabet makes up about 1.5% of Benin Management CORP’s investment portfolio, making the stock its 10th largest position. Benin Management CORP’s holdings in Alphabet were worth $5,830,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GOOG. ACT Advisors LLC. grew its stake in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the period. LongView Wealth Management grew its stake in shares of Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates grew its stake in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after purchasing an additional 56 shares during the period. Greenup Street Wealth Management LLC grew its stake in shares of Alphabet by 0.5% during the 2nd quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock worth $2,068,000 after purchasing an additional 56 shares during the period. Finally, Colton Groome Financial Advisors LLC grew its stake in shares of Alphabet by 3.4% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday, September 3rd. Pivotal Research upped their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research report on Friday. Finally, Morgan Stanley boosted their price objective on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.68.

Alphabet Price Performance

Alphabet stock opened at $260.51 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $262.51. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $237.33 and its 200 day simple moving average is $196.32. The firm has a market capitalization of $3.15 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.