Alphabet Inc (NASDAQ:GOOG) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank increased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,325 shares of the information services provider’s stock after acquiring an additional 241 shares during the period. Alphabet accounts for 1.0% of Sandy Spring Bank’s holdings, making the stock its 20th biggest position. Sandy Spring Bank’s holdings in Alphabet were worth $12,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. First Bank & Trust increased its stake in Alphabet by 0.8% in the second quarter. First Bank & Trust now owns 1,025 shares of the information services provider’s stock valued at $1,108,000 after purchasing an additional 8 shares during the last quarter. Central Bank & Trust Co. increased its stake in Alphabet by 3.1% in the second quarter. Central Bank & Trust Co. now owns 295 shares of the information services provider’s stock valued at $319,000 after purchasing an additional 9 shares during the last quarter. Telos Capital Management Inc. increased its stake in Alphabet by 1.0% in the second quarter. Telos Capital Management Inc. now owns 921 shares of the information services provider’s stock valued at $996,000 after purchasing an additional 9 shares during the last quarter. TD Capital Management LLC increased its stake in Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 10 shares during the last quarter. Finally, Meristem Family Wealth LLC increased its stake in Alphabet by 1.5% in the fourth quarter. Meristem Family Wealth LLC now owns 690 shares of the information services provider’s stock valued at $715,000 after purchasing an additional 10 shares during the last quarter. 33.98% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Amie Thuener O’toole sold 55 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $1,200.74, for a total value of $66,040.70. Following the completion of the sale, the vice president now owns 388 shares of the company’s stock, valued at $465,887.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 150 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total value of $183,750.00. Following the completion of the sale, the director now directly owns 276 shares of the company’s stock, valued at approximately $338,100. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,123 shares of company stock valued at $2,553,758. 12.99% of the stock is owned by company insiders.

GOOG stock traded down $0.29 during trading on Thursday, reaching $1,164.00. 18,737 shares of the stock traded hands, compared to its average volume of 1,719,128. The firm’s 50 day simple moving average is $1,155.12. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The firm has a market cap of $814.54 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.29 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. During the same quarter in the previous year, the business earned $11.75 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc will post 52.1 EPS for the current year.

GOOG has been the subject of several analyst reports. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 target price for the company in a research note on Wednesday, July 31st. Bank of America reiterated a “buy” rating and issued a $1,450.00 target price (up from $1,350.00) on shares of Alphabet in a research note on Friday, July 26th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price for the company. in a research note on Tuesday, April 30th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 23rd. Finally, Oppenheimer upped their target price on Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,378.93.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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