LS Investment Advisors LLC Buys 874 Shares of Alphabet Inc. (GOOG)
LS Investment Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the second quarter, Holdings Channel reports. The institutional investor owned 18,821 shares of the company’s stock after buying an additional 874 shares during the period. Alphabet makes up 0.9% of LS Investment Advisors LLC’s investment portfolio, making the stock its 20th largest position. LS Investment Advisors LLC’s holdings in Alphabet were worth $13,026,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Clarkston Capital Partners LLC raised its stake in Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock valued at $229,000 after buying an additional 43 shares during the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new stake in Alphabet during the second quarter valued at $7,988,000. Quadrant Capital Management LLC raised its stake in Alphabet by 1.1% in the second quarter. Quadrant Capital Management LLC now owns 3,141 shares of the company’s stock valued at $2,174,000 after buying an additional 35 shares during the last quarter. TIAA CREF Trust Co. FSB MO raised its stake in Alphabet by 2.3% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 37,940 shares of the company’s stock valued at $26,258,000 after buying an additional 838 shares during the last quarter. Finally, IBM Retirement Fund raised its stake in Alphabet by 1.4% in the second quarter. IBM Retirement Fund now owns 39,169 shares of the company’s stock valued at $27,912,000 after buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 34.39% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.23% during trading on Friday, reaching $775.08. 933,158 shares of the company’s stock traded hands. The company’s 50-day moving average is $773.14 and its 200 day moving average is $740.29. Alphabet Inc. has a 52-week low of $639.01 and a 52-week high of $789.87. The company has a market cap of $532.69 billion, a price-to-earnings ratio of 30.03 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last posted its earnings results 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. The firm earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company earned $6.99 earnings per share. Equities analysts forecast that Alphabet Inc. will post $34.14 EPS for the current year.
Several research firms have recently weighed in on GOOG. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $940.00 price objective (up previously from $920.00) on shares of Alphabet in a report on Friday, July 29th. Evercore ISI reaffirmed a “buy” rating and set a $830.00 price objective (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Atlantic Securities set a $910.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $760.24 price objective for the company in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. set a $920.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $926.55.
In other news, CEO Lawrence Page sold 33,340 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $800.75, for a total value of $26,697,005.00. Following the completion of the transaction, the chief executive officer now directly owns 105,670 shares in the company, valued at $84,615,252.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 43 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $773.49, for a total transaction of $33,260.07. Following the completion of the transaction, the director now owns 1,656 shares of the company’s stock, valued at $1,280,899.44. 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.
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).
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.