Mathes Company Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the first quarter, Holdings Channel reports. The firm owned 3,879 shares of the information services provider’s stock after selling 50 shares during the period. Alphabet accounts for approximately 1.7% of Mathes Company Inc.’s investment portfolio, making the stock its 18th largest position. Mathes Company Inc.’s holdings in Alphabet were worth $3,218,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GOOG. Radnor Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $232,000. Sullivan Bruyette Speros & Blaney LLC raised its stake in shares of Alphabet by 8.2% in the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 740 shares of the information services provider’s stock valued at $571,000 after buying an additional 56 shares in the last quarter. Whetstone Capital Advisors LLC raised its stake in shares of Alphabet by 266.7% in the fourth quarter. Whetstone Capital Advisors LLC now owns 13,200 shares of the information services provider’s stock valued at $10,188,000 after buying an additional 9,600 shares in the last quarter. Cobiz Wealth LLC raised its stake in shares of Alphabet by 8.6% in the fourth quarter. Cobiz Wealth LLC now owns 316 shares of the information services provider’s stock valued at $244,000 after buying an additional 25 shares in the last quarter. Finally, JNBA Financial Advisors raised its stake in shares of Alphabet by 6.5% in the fourth quarter. JNBA Financial Advisors now owns 880 shares of the information services provider’s stock valued at $679,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 35.04% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ GOOG) opened at 957.09 on Friday. The stock has a 50 day moving average price of $948.74 and a 200 day moving average price of $852.55. Alphabet Inc. has a 12 month low of $663.28 and a 12 month high of $988.25. The firm has a market cap of $662.07 billion, a PE ratio of 32.34 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, beating the Zacks’ consensus estimate of $7.38 by $0.35. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The business had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $24.18 billion. During the same quarter in the prior year, the company earned $7.50 EPS. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post $33.91 EPS for the current year.
A number of equities research analysts have recently issued reports on the company. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $980.86 target price for the company in a research note on Monday. Moffett Nathanson reiterated a “buy” rating on shares of Alphabet in a research note on Friday, June 9th. Aegis reiterated a “buy” rating and issued a $1,011.00 target price on shares of Alphabet in a research note on Sunday, April 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $960.00 target price on shares of Alphabet in a research note on Wednesday, March 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $1,200.00 target price (up previously from $950.00) on shares of Alphabet in a research note on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $988.04.
In related news, Director L John Doerr sold 13,355 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $935.93, for a total value of $12,499,345.15. Following the completion of the sale, the director now owns 3,468 shares in the company, valued at approximately $3,245,805.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $955.25, for a total transaction of $3,821,000.00. Following the completion of the sale, the chief executive officer now owns 1,683 shares of the company’s stock, valued at approximately $1,607,685.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,085 shares of company stock valued at $42,307,001. 13.92% of the stock is owned by corporate insiders.
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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