Perennial Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,232 shares of the information services provider’s stock after purchasing an additional 260 shares during the period. Alphabet accounts for approximately 2.1% of Perennial Advisors LLC’s portfolio, making the stock its 14th largest position. Perennial Advisors LLC’s holdings in Alphabet were worth $2,937,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. grew its stake in shares of Alphabet by 39.6% during the second 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 in the last quarter. Farmers National Bank grew its stake in shares of Alphabet by 15.0% during the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after purchasing an additional 21 shares in the last quarter. St. Johns Investment Management Company LLC grew its stake in shares of Alphabet by 1,046.7% during the second 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 in the last quarter. Cribstone Capital Management LLC grew its stake in shares of Alphabet by 5.7% during the second 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 in the last quarter. Finally, Baker Boyer National Bank acquired a new position in shares of Alphabet during the second quarter worth $200,000. Hedge funds and other institutional investors own 34.52% of the company’s stock.

Alphabet Inc. (GOOG) opened at 988.20 on Monday. The stock has a market cap of $684.70 billion, a P/E ratio of 35.81 and a beta of 0.94. The firm’s 50-day moving average is $951.53 and its 200-day moving average is $930.09. Alphabet Inc. has a 1-year low of $727.54 and a 1-year high of $997.21.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.58. The business 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 quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $8.42 earnings per share. On average, analysts forecast that Alphabet Inc. will post $30.64 EPS for the current year.

A number of equities analysts recently commented on the stock. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research note on Friday. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,150.00 price target on shares of Alphabet in a research report on Thursday. BidaskClub cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. MKM Partners reissued a “buy” rating and issued a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,036.51.

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In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $993.58, for a total transaction of $3,974,320.00. Following the transaction, the chief executive officer now directly owns 1,471 shares of the company’s stock, valued at $1,461,556.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 37 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $940.67, for a total transaction of $34,804.79. Following the transaction, the director now directly owns 1,789 shares in the company, valued at $1,682,858.63. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,694 shares of company stock worth $38,136,904. 13.92% of the stock is currently owned by insiders.

Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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