Lbp Am Sa Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)
Lbp Am Sa increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 15.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,320 shares of the information services provider’s stock after purchasing an additional 57,528 shares during the quarter. Alphabet makes up approximately 1.2% of Lbp Am Sa’s holdings, making the stock its 13th largest holding. Lbp Am Sa’s holdings in Alphabet were worth $51,330,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Palisade Capital Management LP lifted its stake in shares of Alphabet by 2.6% in the 2nd quarter. Palisade Capital Management LP now owns 153,033 shares of the information services provider’s stock valued at $18,512,000 after purchasing an additional 3,835 shares in the last quarter. Jackson Hole Capital Partners LLC lifted its stake in shares of Alphabet by 0.8% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 80,476 shares of the information services provider’s stock valued at $9,735,000 after purchasing an additional 618 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in shares of Alphabet by 10.2% in the 2nd quarter. Polar Capital Holdings Plc now owns 2,720,814 shares of the information services provider’s stock valued at $329,137,000 after purchasing an additional 252,759 shares in the last quarter. Akaris Global Partners LP acquired a new position in shares of Alphabet in the 2nd quarter valued at about $12,266,000. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of Alphabet by 1.7% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 112,737 shares of the information services provider’s stock valued at $13,638,000 after purchasing an additional 1,923 shares in the last quarter. 27.13% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently commented on GOOG shares. Oppenheimer reissued an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Wedbush started coverage on Alphabet in a research report on Monday, August 21st. They set an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $130.60.
View Our Latest Research Report on Alphabet
Alphabet Stock Down 2.7 %
GOOG stock traded down $3.62 during midday trading on Monday, hitting $129.70. 7,345,133 shares of the company’s stock were exchanged, compared to its average volume of 25,604,607. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $85.57 and a 12-month high of $142.38. The firm has a 50 day moving average price of $134.83 and a 200-day moving average price of $130.17. The stock has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. On average, analysts anticipate that Alphabet Inc. will post 5.75 EPS for the current year.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total value of $9,831,750.00. Following the completion of the sale, the director now owns 104,364 shares of the company’s stock, valued at $13,681,076.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,776 shares of company stock worth $23,452,924. 12.99% of the stock is currently owned by insiders.
About Alphabet (Free Report)
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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Original: MarketBeat News Feed: Lbp Am Sa Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)