Axel Capital Management LLC acquired a new position in shares of Alphabet Inc (NASDAQ:GOOG) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,700 shares of the information services provider’s stock, valued at approximately $4,128,000. Alphabet accounts for approximately 3.8% of Axel Capital Management LLC’s investment portfolio, making the stock its 10th largest position.
Other large investors also recently bought and sold shares of the company. Smart Portfolios LLC purchased a new position in shares of Alphabet in the 1st quarter valued at $103,000. Braun Bostich & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at $107,000. Litman Gregory Asset Management LLC purchased a new position in shares of Alphabet in the 1st quarter valued at $113,000. JJJ Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter valued at $134,000. Finally, Stelac Advisory Services LLC purchased a new position in shares of Alphabet in the 1st quarter valued at $145,000. 34.18% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Monday, August 20th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, August 29th. Macquarie reissued a “buy” rating on shares of Alphabet in a research report on Monday, September 10th. BidaskClub downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Alphabet in a research report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,311.71.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $9.66 by $2.09. The business had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.01 earnings per share.
In other news, SVP David C. Drummond sold 5,690 shares of Alphabet stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $1,167.38, for a total value of $6,642,392.20. Following the sale, the senior vice president now owns 41,234 shares of the company’s stock, valued at $48,135,746.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 24 shares of Alphabet stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $1,206.20, for a total transaction of $28,948.80. Following the completion of the sale, the director now directly owns 1,898 shares in the company, valued at approximately $2,289,367.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,370 shares of company stock worth $106,307,067. Insiders own 13.11% of the company’s stock.
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.
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