Artisan Partners Limited Partnership Raises Stake in Alphabet Inc. (GOOG)
Artisan Partners Limited Partnership boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 646,823 shares of the information services provider’s stock after buying an additional 27,355 shares during the period. Alphabet accounts for about 1.0% of Artisan Partners Limited Partnership’s holdings, making the stock its 24th largest position. Artisan Partners Limited Partnership’s holdings in Alphabet were worth $536,578,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Fort Washington Investment Advisors Inc. OH increased its position in Alphabet by 2.5% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 143,873 shares of the information services provider’s stock worth $119,430,000 after buying an additional 3,501 shares during the last quarter. Giverny Capital Inc. boosted its position in shares of Alphabet by 30.0% in the first quarter. Giverny Capital Inc. now owns 22,692 shares of the information services provider’s stock valued at $18,824,000 after buying an additional 5,234 shares during the period. Madison Investment Holdings Inc. boosted its position in shares of Alphabet by 5.3% in the first quarter. Madison Investment Holdings Inc. now owns 71,389 shares of the information services provider’s stock valued at $59,221,000 after buying an additional 3,596 shares during the period. Peapack Gladstone Financial Corp boosted its position in shares of Alphabet by 1.8% in the first quarter. Peapack Gladstone Financial Corp now owns 2,764 shares of the information services provider’s stock valued at $2,293,000 after buying an additional 48 shares during the period. Finally, South Texas Money Management Ltd. boosted its position in shares of Alphabet by 1.0% in the first quarter. South Texas Money Management Ltd. now owns 706 shares of the information services provider’s stock valued at $586,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 34.54% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 929.36 on Tuesday. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The company has a market cap of $643.93 billion, a price-to-earnings ratio of 33.68 and a beta of 0.94. The company’s 50-day moving average price is $943.17 and its 200-day moving average price is $884.16.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.42 earnings per share. Analysts anticipate that Alphabet Inc. will post $30.60 EPS for the current year.
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GOOG has been the subject of several recent research reports. Barclays PLC reissued an “overweight” rating on shares of Alphabet in a research report on Monday, April 17th. Macquarie reissued a “buy” rating and set a $975.00 price target on shares of Alphabet in a research report on Tuesday, April 18th. Cowen and Company reissued an “outperform” rating and set a $1,050.00 price target on shares of Alphabet in a research report on Wednesday, April 19th. Pacific Crest reissued an “overweight” rating and set a $1,040.00 price target on shares of Alphabet in a research report on Sunday, April 23rd. Finally, Nomura reissued a “buy” rating and set a $925.00 price target on shares of Alphabet in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,022.32.
In other news, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the transaction, the chief executive officer now directly owns 2,058 shares in the company, valued at $2,019,824.10. The disclosure for this sale can be found here. In the last three months, insiders sold 47,218 shares of company stock worth $44,511,312. 13.92% of the stock is owned by insiders.
Alphabet Company Profile
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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