K.J. Harrison & Partners Inc Raises Stake in Alphabet Inc Class C (GOOG)

K.J. Harrison & Partners Inc lifted its position in shares of Alphabet Inc Class C (NASDAQ:GOOG) by 2.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,258 shares of the information services provider’s stock after purchasing an additional 106 shares during the quarter. Alphabet Inc Class C comprises approximately 1.4% of K.J. Harrison & Partners Inc’s holdings, making the stock its 16th largest holding. K.J. Harrison & Partners Inc’s holdings in Alphabet Inc Class C were worth $4,750,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GOOG. HC Financial Advisors Inc. purchased a new position in Alphabet Inc Class C in the 4th quarter worth approximately $1,156,000. Geode Capital Management LLC boosted its holdings in Alphabet Inc Class C by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,642 shares of the information services provider’s stock worth $3,506,398,000 after acquiring an additional 105,985 shares during the period. WINTON GROUP Ltd purchased a new position in Alphabet Inc Class C in the 4th quarter worth approximately $290,000. Edge Advisors LLC boosted its holdings in Alphabet Inc Class C by 3.3% in the 4th quarter. Edge Advisors LLC now owns 3,994 shares of the information services provider’s stock worth $4,177,000 after acquiring an additional 127 shares during the period. Finally, Polaris Greystone Financial Group LLC boosted its holdings in Alphabet Inc Class C by 179.7% in the 4th quarter. Polaris Greystone Financial Group LLC now owns 870 shares of the information services provider’s stock worth $911,000 after acquiring an additional 559 shares during the period. Institutional investors and hedge funds own 34.31% of the company’s stock.

Shares of GOOG opened at $1,172.53 on Friday. Alphabet Inc Class C has a 52-week low of $909.70 and a 52-week high of $1,273.89. The company has a market capitalization of $809.26 billion, a price-to-earnings ratio of 28.40 and a beta of 1.11. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02.

Alphabet Inc Class C (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 for the quarter, compared to analyst estimates of $32.13 billion. Alphabet Inc Class C had a return on equity of 18.24% and a net margin of 13.16%. Alphabet Inc Class C’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the company posted $5.01 EPS.

A number of equities analysts have weighed in on the company. BidaskClub upgraded Alphabet Inc Class C from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Raymond James restated an “outperform” rating and issued a $1,405.00 price target (up previously from $1,240.00) on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. Royal Bank of Canada upped their price target on Alphabet Inc Class C from $1,285.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Tuesday, July 24th. Nomura restated a “buy” rating on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-seven have assigned a buy rating to the stock. Alphabet Inc Class C has a consensus rating of “Buy” and a consensus price target of $1,255.72.

In related news, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $1,179.07, for a total transaction of $11,790,700.00. Following the sale, the chief executive officer now directly owns 587 shares of the company’s stock, valued at approximately $692,114.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Amie Thuener O’toole sold 73 shares of the company’s stock in a transaction that occurred on Tuesday, July 3rd. The shares were sold at an average price of $1,135.82, for a total value of $82,914.86. Following the sale, the vice president now directly owns 388 shares in the company, valued at $440,698.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,362 shares of company stock worth $105,611,408. Corporate insiders own 13.11% of the company’s stock.

About Alphabet Inc Class C

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: Outstanding Shares

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Institutional Ownership by Quarter for Alphabet Inc Class C (NASDAQ:GOOG)

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