Alphabet Inc (GOOG) Position Boosted by Vantage Investment Partners LLC

Vantage Investment Partners LLC increased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 61.9% during the second quarter, Holdings Channel reports. The institutional investor owned 10,201 shares of the information services provider’s stock after purchasing an additional 3,901 shares during the period. Alphabet accounts for 0.8% of Vantage Investment Partners LLC’s investment portfolio, making the stock its 19th largest holding. Vantage Investment Partners LLC’s holdings in Alphabet were worth $11,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Alphabet by 5.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,024,805 shares of the information services provider’s stock worth $1,143,324,000 after buying an additional 57,408 shares during the last quarter. Howe & Rusling Inc. increased its holdings in Alphabet by 1.0% during the second quarter. Howe & Rusling Inc. now owns 4,921 shares of the information services provider’s stock worth $5,490,000 after buying an additional 48 shares during the last quarter. Wagner Bowman Management Corp increased its holdings in shares of Alphabet by 6.7% in the second quarter. Wagner Bowman Management Corp now owns 969 shares of the information services provider’s stock valued at $1,081,000 after purchasing an additional 61 shares during the last quarter. CWM LLC increased its holdings in shares of Alphabet by 15.0% in the second quarter. CWM LLC now owns 982 shares of the information services provider’s stock valued at $1,096,000 after purchasing an additional 128 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Alphabet by 6.9% in the second quarter. Commonwealth Equity Services LLC now owns 63,761 shares of the information services provider’s stock valued at $71,135,000 after purchasing an additional 4,103 shares during the last quarter. Institutional investors and hedge funds own 34.20% of the company’s stock.

Several research firms have commented on GOOG. BidaskClub upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Raymond James reiterated an “outperform” rating and issued a $1,405.00 price objective (up from $1,240.00) on shares of Alphabet in a report on Tuesday, July 24th. Royal Bank of Canada upped their price objective on shares of Alphabet from $1,285.00 to $1,400.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Nomura reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $1,276.48.

In other news, Director Ann Mather sold 24 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $1,100.00, for a total value of $26,400.00. Following the completion of the sale, the director now owns 1,870 shares of the company’s stock, valued at $2,057,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $1,113.42, for a total transaction of $11,134,200.00. Following the completion of the sale, the chief executive officer now directly owns 899 shares of the company’s stock, valued at approximately $1,000,964.58. The disclosure for this sale can be found here. In the last three months, insiders sold 88,362 shares of company stock valued at $105,424,908. 13.11% of the stock is currently owned by company insiders.

Shares of Alphabet stock opened at $1,184.65 on Wednesday. The stock has a market capitalization of $811.54 billion, a PE ratio of 28.48 and a beta of 1.11. Alphabet Inc has a 52-week low of $921.14 and a 52-week high of $1,273.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $9.66 by $2.09. The company had revenue of $32.66 billion during the quarter, compared to analysts’ expectations of $32.13 billion. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. Alphabet’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.01 earnings per share.

Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: Short Selling

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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