Wedbush Securities Inc. Raises Holdings in Alphabet Inc (NASDAQ:GOOG)

Wedbush Securities Inc. increased its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,388 shares of the information services provider’s stock after acquiring an additional 145 shares during the period. Wedbush Securities Inc.’s holdings in Alphabet were worth $5,349,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Marietta Wealth Management LLC lifted its stake in Alphabet by 48.5% during the second quarter. Marietta Wealth Management LLC now owns 643 shares of the information services provider’s stock worth $695,000 after purchasing an additional 210 shares in the last quarter. Curbstone Financial Management Corp lifted its stake in Alphabet by 4.3% during the second quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock worth $3,688,000 after purchasing an additional 140 shares in the last quarter. Veritas Investment Management LLP lifted its stake in Alphabet by 2.8% during the second quarter. Veritas Investment Management LLP now owns 34,098 shares of the information services provider’s stock worth $36,853,000 after purchasing an additional 936 shares in the last quarter. FTB Advisors Inc. lifted its stake in Alphabet by 5.5% during the second quarter. FTB Advisors Inc. now owns 3,401 shares of the information services provider’s stock worth $3,676,000 after purchasing an additional 177 shares in the last quarter. Finally, Gryphon Financial Partners LLC lifted its stake in Alphabet by 88.0% during the second quarter. Gryphon Financial Partners LLC now owns 549 shares of the information services provider’s stock worth $594,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 33.82% of the company’s stock.

Shares of GOOG stock traded down $7.58 during mid-day trading on Friday, hitting $1,245.49. 1,225,762 shares of the stock were exchanged, compared to its average volume of 1,314,985. The stock’s fifty day simple moving average is $1,215.34 and its two-hundred day simple moving average is $1,173.56. The stock has a market capitalization of $868.87 billion, a price-to-earnings ratio of 26.22, a P/E/G ratio of 1.47 and a beta of 0.99. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.49 by $2.72. The company had revenue of $38.94 billion for the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $11.75 earnings per share. On average, research analysts expect that Alphabet Inc will post 51.42 earnings per share for the current fiscal year.

In other Alphabet news, Director Ann Mather sold 27 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $1,213.14, for a total transaction of $32,754.78. Following the transaction, the director now owns 1,803 shares of the company’s stock, valued at $2,187,291.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 54 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $1,191.53, for a total value of $64,342.62. Following the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at approximately $462,313.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,391 shares of company stock worth $6,502,992. Corporate insiders own 12.99% of the company’s stock.

Several analysts have recently issued reports on GOOG shares. Bank of America reiterated a “buy” rating and issued a $1,450.00 price objective (up from $1,350.00) on shares of Alphabet in a research note on Friday, July 26th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,363.00 price objective on the stock in a research note on Wednesday. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday. Finally, Cowen increased their price objective on Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,378.33.

Alphabet Profile

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.

Further Reading: How much can an individual set aside as a catch-up contribution?

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.