Alphabet Inc. (GOOG) Stake Raised by Suffolk Capital Management LLC
Suffolk Capital Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 23.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,889 shares of the information services provider’s stock after acquiring an additional 4,959 shares during the period. Alphabet makes up about 3.1% of Suffolk Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Suffolk Capital Management LLC’s holdings in Alphabet were worth $23,526,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of GOOG. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after purchasing an additional 40 shares during the last quarter. Farmers National Bank boosted its holdings in shares of Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after purchasing an additional 21 shares during the last quarter. St. Johns Investment Management Company LLC boosted its holdings in shares of Alphabet by 1,046.7% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after purchasing an additional 157 shares during the last quarter. Cribstone Capital Management LLC boosted its holdings in shares of Alphabet by 5.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock worth $167,000 after purchasing an additional 10 shares during the last quarter. Finally, Baker Boyer National Bank acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $200,000. Hedge funds and other institutional investors own 34.52% of the company’s stock.
Alphabet Inc. (GOOG) opened at 992.00 on Tuesday. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $997.21. The firm’s 50-day moving average is $942.88 and its 200-day moving average is $925.82. The stock has a market cap of $687.34 billion, a P/E ratio of 35.95 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 firm had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $8.42 earnings per share. On average, analysts forecast that Alphabet Inc. will post $30.62 EPS for the current year.
In other Alphabet news, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total value of $12,500,665.40. Following the completion of the sale, the director now directly owns 3,485 shares of the company’s stock, valued at $3,213,692.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $958.40, for a total transaction of $3,833,600.00. The disclosure for this sale can be found here. Insiders sold 40,694 shares of company stock valued at $38,042,264 over the last three months. Insiders own 13.92% of the company’s stock.
Several research analysts have recently weighed in on GOOG shares. Citigroup Inc. restated a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a report on Thursday, July 27th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $995.83 target price on the stock in a report on Monday, June 26th. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 6th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-nine have issued a buy rating to the company. Alphabet presently has an average rating of “Buy” and an average price target of $1,034.07.
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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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