Alphabet Inc (NASDAQ:GOOG) Position Boosted by Hamel Associates Inc.

Hamel Associates Inc. grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,884 shares of the information services provider’s stock after purchasing an additional 260 shares during the period. Alphabet makes up 1.8% of Hamel Associates Inc.’s portfolio, making the stock its 21st biggest holding. Hamel Associates Inc.’s holdings in Alphabet were worth $4,198,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Curbstone Financial Management Corp lifted its stake in Alphabet by 4.3% during the second quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock valued at $3,688,000 after buying an additional 140 shares in the last quarter. Veritas Investment Management LLP lifted its stake in Alphabet by 2.8% during the second quarter. Veritas Investment Management LLP now owns 34,098 shares of the information services provider’s stock valued at $36,853,000 after buying an additional 936 shares in the last quarter. B. Riley Wealth Management Inc. lifted its stake in Alphabet by 9.0% during the first quarter. B. Riley Wealth Management Inc. now owns 980 shares of the information services provider’s stock valued at $1,150,000 after buying an additional 81 shares in the last quarter. First National Bank of Hutchinson lifted its stake in Alphabet by 3.7% during the fourth quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock valued at $1,276,000 after buying an additional 44 shares in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its stake in Alphabet by 18.8% during the second quarter. Coronation Fund Managers Ltd. now owns 14,918 shares of the information services provider’s stock valued at $16,125,000 after buying an additional 2,363 shares in the last quarter. Institutional investors own 34.00% of the company’s stock.

In related news, Director John L. Hennessy sold 75 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $1,238.57, for a total value of $92,892.75. Following the transaction, the director now owns 276 shares in the company, valued at $341,845.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amie Thuener O’toole sold 69 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $1,100.52, for a total value of $75,935.88. Following the transaction, the vice president now owns 388 shares in the company, valued at approximately $427,001.76. The disclosure for this sale can be found here. Insiders sold 2,123 shares of company stock worth $2,553,758 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

NASDAQ:GOOG traded up $11.39 during mid-day trading on Wednesday, reaching $1,194.08. The stock had a trading volume of 426,088 shares, compared to its average volume of 1,725,303. The business’s 50 day moving average is $1,167.06 and its 200 day moving average is $1,155.12. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The stock has a market cap of $820.08 billion, a P/E ratio of 25.13, a PEG ratio of 1.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. During the same quarter in the prior year, the company posted $11.75 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. Equities analysts expect that Alphabet Inc will post 52.1 EPS for the current year.

A number of analysts have commented on GOOG shares. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Pivotal Research initiated coverage on shares of Alphabet in a research report on Wednesday, May 29th. They issued a “hold” rating for the company. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 price target for the company. in a research report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,378.93.

Alphabet Company Profile

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.

See Also: Why Dividend Stocks May Be Right for You

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.