Davy Asset Management Ltd Acquires New Holdings in Alphabet Inc (GOOG)

Davy Asset Management Ltd acquired a new stake in Alphabet Inc (NASDAQ:GOOG) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,337 shares of the information services provider’s stock, valued at approximately $9,414,000. Alphabet accounts for 2.5% of Davy Asset Management Ltd’s holdings, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Braun Bostich & Associates Inc. acquired a new stake in Alphabet in the first quarter worth $107,000. JJJ Advisors Inc. acquired a new stake in Alphabet in the second quarter worth $134,000. Well Done LLC acquired a new stake in Alphabet in the first quarter worth $176,000. Blackhawk Capital Partners LLC. raised its holdings in Alphabet by 148.6% in the second quarter. Blackhawk Capital Partners LLC. now owns 174 shares of the information services provider’s stock worth $194,000 after purchasing an additional 104 shares during the period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in Alphabet in the second quarter worth $201,000. Institutional investors and hedge funds own 33.96% of the company’s stock.

Several equities research analysts have weighed in on GOOG shares. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Canaccord Genuity cut their target price on shares of Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Deutsche Bank restated a “buy” rating and set a $1,375.00 price objective (up from $1,350.00) on shares of Alphabet in a report on Tuesday, October 23rd. Stifel Nicolaus restated a “buy” rating on shares of Alphabet in a report on Friday, October 26th. Finally, Macquarie restated a “buy” rating on shares of Alphabet in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $1,301.81.

In related news, VP Amie Thuener O’toole sold 80 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $1,190.96, for a total value of $95,276.80. Following the completion of the transaction, the vice president now owns 388 shares of the company’s stock, valued at $462,092.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 24 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 1,898 shares of the company’s stock, valued at approximately $2,289,367.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,267 shares of company stock valued at $99,725,538. 13.11% of the stock is owned by insiders.

Shares of NASDAQ:GOOG opened at $1,023.88 on Friday. Alphabet Inc has a 12 month low of $980.64 and a 12 month high of $1,273.89. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. The firm has a market cap of $722.05 billion, a P/E ratio of 23.35 and a beta of 1.16.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. The business had revenue of $27.16 billion for the quarter. Alphabet had a net margin of 14.45% and a return on equity of 19.40%.

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Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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