Cidel Asset Management Inc. held its stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 501 shares of the information services provider’s stock at the close of the second quarter. Cidel Asset Management Inc.’s holdings in Alphabet were worth $455,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Riggs Asset Managment Co. Inc. lifted its holdings in Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after buying an additional 40 shares during the last quarter. Farmers National Bank lifted its holdings in Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after buying an additional 21 shares during the last quarter. St. Johns Investment Management Company LLC lifted its holdings in Alphabet by 1,046.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after buying an additional 157 shares during the last quarter. Cribstone Capital Management LLC lifted its holdings in Alphabet by 5.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after buying an additional 10 shares during the last quarter. Finally, Baker Boyer National Bank bought a new position in Alphabet during the 2nd quarter worth approximately $200,000. 34.50% of the stock is owned by hedge funds and other institutional investors.
In other Alphabet news, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $931.32, for a total transaction of $1,862,640.00. Following the transaction, the senior vice president now directly owns 800 shares in the company, valued at $745,056. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $940.67, for a total value of $34,804.79. Following the transaction, the director now owns 1,789 shares in the company, valued at $1,682,858.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,714 shares of company stock valued at $39,425,705. 13.92% of the stock is owned by corporate insiders.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at $1,028.07 on Friday. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $1,048.39. The stock has a market capitalization of $714,304.06, a price-to-earnings ratio of 34.42 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. During the same period last year, the company earned $9.06 earnings per share. Alphabet’s quarterly revenue was up 23.7% compared to the same quarter last year.
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GOOG has been the topic of a number of research analyst reports. Citigroup Inc. reaffirmed a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a report on Thursday, July 27th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 27th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have given a buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average price target of $1,045.44.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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