Perennial Advisors LLC increased its stake in Alphabet Inc (NASDAQ:GOOG) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,128 shares of the information services provider’s stock after purchasing an additional 206 shares during the quarter. Alphabet makes up approximately 2.4% of Perennial Advisors LLC’s portfolio, making the stock its 13th biggest holding. Perennial Advisors LLC’s holdings in Alphabet were worth $4,462,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. 1 North Wealth Services LLC bought a new position in shares of Alphabet in the fourth quarter worth $34,000. TD Capital Management LLC increased its holdings in shares of Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares during the period. Truehand Inc bought a new position in shares of Alphabet in the fourth quarter worth $38,000. HMS Capital Management LLC bought a new position in shares of Alphabet in the second quarter worth $38,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Alphabet by 102,010.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56,169,241 shares during the period. 33.96% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on GOOG shares. Zacks Investment Research cut shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Cowen set a $1,500.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $1,360.00 price target (up previously from $1,315.00) on shares of Alphabet in a report on Friday, July 26th. Pivotal Research started coverage on shares of SRC Energy in a report on Wednesday, May 29th. They issued a “buy” rating and a $37.29 price target on the stock. Finally, Royal Bank of Canada set a €145.00 ($168.60) price target on shares of Aena SME and gave the stock a “sell” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have assigned a buy rating to the company. Alphabet has an average rating of “Buy” and an average price target of $1,375.73.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. During the same period in the prior year, the business posted $11.75 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc will post 50.94 earnings per share for the current year.
In other Alphabet news, Director John L. Hennessy sold 150 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $1,225.00, for a total transaction of $183,750.00. Following the completion of the sale, the director now directly owns 276 shares in the company, valued at $338,100. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Amie Thuener O’toole sold 73 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $1,167.74, for a total transaction of $85,245.02. Following the sale, the vice president now owns 388 shares of the company’s stock, valued at $453,083.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 439 shares of company stock valued at $502,691. Company insiders own 12.99% of the company’s stock.
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.
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