Alphabet Inc. (GOOG) Stake Held by First Niagara Bank
First Niagara Bank maintained its stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,199 shares of the company’s stock at the end of the second quarter. First Niagara Bank’s holdings in Alphabet were worth $1,522,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of GOOG. D. Scott Neal Inc. boosted its stake in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares in the last quarter. Cacti Asset Management LLC bought a new stake in shares of Alphabet during the second quarter worth approximately $159,000. Stewart & Patten Co. LLC boosted its stake in shares of Alphabet by 1.3% in the second quarter. Stewart & Patten Co. LLC now owns 323 shares of the company’s stock worth $224,000 after buying an additional 4 shares in the last quarter. Retirement Planning Group boosted its stake in shares of Alphabet by 1.5% in the first quarter. Retirement Planning Group now owns 330 shares of the company’s stock worth $246,000 after buying an additional 5 shares in the last quarter. Finally, Clarkston Capital Partners LLC boosted its stake in shares of Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock worth $229,000 after buying an additional 43 shares in the last quarter. 34.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.23% during trading on Friday, reaching $775.08. 933,158 shares of the company traded hands. The firm’s 50 day moving average price is $773.14 and its 200-day moving average price 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 capitalization 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, beating the consensus estimate of $8.03 by $0.39. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Alphabet’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.99 EPS. Equities analysts anticipate that Alphabet Inc. will post $34.14 EPS for the current fiscal year.
A number of brokerages have recently commented on GOOG. Sanford C. Bernstein set a $950.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. JMP Securities set a $928.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. Robert W. Baird set a $900.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group AG reissued an “outperform” rating and issued a $940.00 price target (up from $920.00) on shares of Alphabet in a research report on Friday, July 29th. Finally, Atlantic Securities set a $910.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock 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 company’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 transaction, the chief executive officer now directly owns 105,670 shares in the company, valued at approximately $84,615,252.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the completion of the transaction, the chief executive officer now owns 3,297 shares in the company, valued at $2,437,175.37. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by company 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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