Global X Management Co LLC Increases Position in Alphabet Inc (GOOG)

Global X Management Co LLC increased its holdings in Alphabet Inc (NASDAQ:GOOG) by 6.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,038 shares of the information services provider’s stock after purchasing an additional 132 shares during the period. Global X Management Co LLC’s holdings in Alphabet were worth $2,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Braun Bostich & Associates Inc. bought a new position in Alphabet during the first quarter valued at $107,000. JJJ Advisors Inc. bought a new position in Alphabet during the second quarter valued at $134,000. Clearwater Capital Advisors LLC bought a new position in Alphabet during the first quarter valued at $189,000. Blackhawk Capital Partners LLC. increased its position in Alphabet by 148.6% during the second quarter. Blackhawk Capital Partners LLC. now owns 174 shares of the information services provider’s stock valued at $194,000 after acquiring an additional 104 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH bought a new position in Alphabet during the second quarter valued at $201,000. Institutional investors own 33.96% of the company’s stock.

In related news, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $1,192.12, for a total value of $11,921,200.00. Following the completion of the sale, the chief executive officer now directly owns 871 shares of the company’s stock, valued at $1,038,336.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 24 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was 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 of the company’s stock, valued at $2,289,367.60. The disclosure for this sale can be found here. Insiders have sold 89,267 shares of company stock valued at $99,725,538 over the last three months. Insiders own 13.11% of the company’s stock.

A number of research firms have weighed in on GOOG. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. Wedbush began coverage on shares of Alphabet in a research report on Wednesday, October 17th. They set an “outperform” rating on the stock. Canaccord Genuity cut their price objective on shares of Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating on the stock in a research report on Friday, October 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Monday, September 24th. Finally, Piper Jaffray Companies cut their price objective on shares of Alphabet to $1,250.00 and set an “overweight” rating on the stock in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,301.81.

Shares of GOOG opened at $1,023.88 on Monday. The firm has a market cap of $712.49 billion, a PE ratio of 23.04 and a beta of 1.16. Alphabet Inc has a 12-month low of $980.64 and a 12-month high of $1,273.89. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. The firm had revenue of $27.16 billion during 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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