Schroder Investment Management Group Boosts Stake in Alphabet Inc. (GOOG)
Schroder Investment Management Group boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,451 shares of the company’s stock after buying an additional 1,547 shares during the period. Schroder Investment Management Group’s holdings in Alphabet were worth $119,353,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management bought a new position in Alphabet during the second quarter valued at approximately $121,000. Whitnell & Co. raised its position in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. raised its position in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the period. Cacti Asset Management LLC bought a new position in Alphabet during the second quarter valued at approximately $159,000. Finally, Wedge Capital Management L L P NC bought a new position in Alphabet during the second quarter valued at approximately $210,000. 34.39% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.32% during mid-day trading on Tuesday, hitting $775.00. 522,080 shares of the stock traded hands. The stock has a market capitalization of $532.64 billion, a PE ratio of 30.03 and a beta of 1.03. The company has a 50 day moving average price of $773.49 and a 200-day moving average price of $739.24. Alphabet Inc. has a one year low of $625.56 and a one year high of $789.87.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the consensus estimate of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. During the same quarter in the previous year, the company earned $6.99 EPS. The business’s revenue was up 21.3% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post $34.30 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on the company. Citigroup Inc. reaffirmed a “buy” rating and set a $900.00 target price on shares of Alphabet in a research report on Saturday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $925.00 target price (up from $888.00) on shares of Alphabet in a research report on Friday, July 29th. Longbow Research assumed coverage on Alphabet in a research report on Wednesday, July 6th. They set a “buy” rating on the stock. Macquarie reaffirmed an “outperform” rating and set a $975.00 target price on shares of Alphabet in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $925.99.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $690.94, for a total value of $2,763,760.00. Following the completion of the transaction, the chief executive officer now directly owns 3,672 shares in the company, valued at approximately $2,537,131.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David C. Drummond sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $725.52, for a total transaction of $3,627,600.00. Following the completion of the transaction, the senior vice president now owns 13,248 shares of the company’s stock, valued at $9,611,688.96. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by insiders.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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