MCF Advisors LLC Continues to Hold Holdings in Alphabet Inc. (GOOG)
MCF Advisors LLC maintained its stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209 shares of the information services provider’s stock at the close of the second quarter. MCF Advisors LLC’s holdings in Alphabet were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Cambridge Advisors Inc. lifted its position in Alphabet by 0.4% during the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock worth $226,000 after buying an additional 1 shares in the last quarter. Howland Capital Management LLC lifted its position in Alphabet by 0.3% during the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock worth $528,000 after buying an additional 2 shares in the last quarter. Gradient Investments LLC lifted its position in Alphabet by 0.6% during the second quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock worth $460,000 after buying an additional 3 shares in the last quarter. Lederer & Associates Investment Counsel CA lifted its position in Alphabet by 0.4% during the first quarter. Lederer & Associates Investment Counsel CA now owns 1,091 shares of the information services provider’s stock worth $905,000 after buying an additional 4 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in Alphabet by 1.4% during the first quarter. Hodges Capital Management Inc. now owns 298 shares of the information services provider’s stock worth $247,000 after buying an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 34.52% of the company’s stock.
Alphabet Inc. (NASDAQ GOOG) traded up 0.3819% during mid-day trading on Thursday, reaching $935.1379. The company’s stock had a trading volume of 546,159 shares. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The stock’s 50-day moving average is $924.03 and its 200-day moving average is $909.94. The firm has a market capitalization of $647.94 billion, a PE ratio of 33.8904 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter last year, the company posted $8.42 earnings per share. Alphabet’s revenue was up 21.0% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
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In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $903.86, for a total value of $3,615,440.00. Following the transaction, the chief executive officer now owns 1,911 shares of the company’s stock, valued at $1,727,276.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David C. Drummond sold 1,496 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $939.76, for a total transaction of $1,405,880.96. Following the completion of the transaction, the senior vice president now directly owns 52 shares in the company, valued at approximately $48,867.52. The disclosure for this sale can be found here. Insiders sold 42,680 shares of company stock worth $39,700,363 in the last three months. 13.92% of the stock is currently owned by corporate insiders.
A number of equities research analysts have commented on GOOG shares. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research report on Wednesday, June 28th. Vetr downgraded Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 target price on the stock. in a research report on Wednesday, August 30th. Canaccord Genuity downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 target price on the stock. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Finally, Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a research report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $1,031.14.
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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