Monarch Capital Management Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,472 shares of the information services provider’s stock after buying an additional 45 shares during the period. Monarch Capital Management Inc.’s holdings in Alphabet were worth $1,221,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of GOOG. State Street Corp raised its stake in shares of Alphabet by 2.5% in the fourth quarter. State Street Corp now owns 12,030,811 shares of the information services provider’s stock worth $9,285,625,000 after buying an additional 290,691 shares during the period. Dodge & Cox acquired a new stake in shares of Alphabet during the fourth quarter worth $2,387,502,000. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth $2,128,163,000. Bank of Montreal Can raised its stake in shares of Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock worth $1,404,065,000 after buying an additional 181,085 shares during the period. Finally, Putnam Investments LLC raised its stake in shares of Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock worth $844,967,000 after buying an additional 366,456 shares during the period. Hedge funds and other institutional investors own 35.09% of the company’s stock.
Alphabet Inc. (NASDAQ:GOOG) opened at 939.78 on Friday. The stock’s 50 day moving average price is $946.18 and its 200-day moving average price is $848.30. The stock has a market cap of $650.09 billion, a P/E ratio of 31.76 and a beta of 0.94. Alphabet Inc. has a one year low of $663.28 and a one year high of $988.25.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $7.38 by $0.35. The business had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $7.50 EPS. On average, analysts predict that Alphabet Inc. will post $33.91 earnings per share for the current year.
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GOOG has been the subject of a number of recent analyst reports. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. BMO Capital Markets restated an “outperform” rating and set a $1,005.00 price objective on shares of Alphabet in a research note on Monday, March 27th. Nomura restated a “buy” rating and set a $985.00 price objective on shares of Alphabet in a research note on Monday, May 1st. Robert W. Baird restated an “outperform” rating and set a $960.00 price objective on shares of Alphabet in a research note on Wednesday, March 1st. Finally, Cowen and Company restated an “outperform” rating and set a $1,050.00 price objective on shares of Alphabet in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $988.04.
In related news, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $968.95, for a total transaction of $177,317.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $830.20, for a total value of $1,660,400.00. Following the sale, the senior vice president now directly owns 4,800 shares in the company, valued at approximately $3,984,960. The disclosure for this sale can be found here. Insiders have sold a total of 42,085 shares of company stock worth $38,486,001 in the last ninety days. 13.92% of the stock is currently owned by company insiders.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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