InterOcean Capital LLC Increases Stake in Alphabet Inc. (GOOG)
InterOcean Capital LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 24.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,366 shares of the company’s stock after buying an additional 2,583 shares during the period. Alphabet comprises about 2.2% of InterOcean Capital LLC’s portfolio, making the stock its 15th largest position. InterOcean Capital LLC’s holdings in Alphabet were worth $9,251,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. D. Scott Neal Inc. raised its stake in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the last quarter. Cacti Asset Management LLC acquired a new stake in Alphabet during the second quarter valued at approximately $159,000. Wedge Capital Management L L P NC acquired a new stake in Alphabet during the second quarter valued at approximately $210,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Alphabet during the second quarter valued at approximately $215,000. Finally, Evermay Wealth Management LLC raised its stake in Alphabet by 2.3% in the second quarter. Evermay Wealth Management LLC now owns 313 shares of the company’s stock valued at $217,000 after buying an additional 7 shares during the last quarter. 34.38% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.62% during mid-day trading on Wednesday, hitting $776.22. 1,162,287 shares of the stock were exchanged. The firm has a market cap of $533.48 billion, a P/E ratio of 30.08 and a beta of 1.03. The company has a 50 day moving average of $773.57 and a 200 day moving average of $735.28. Alphabet Inc. has a 12-month low of $589.38 and a 12-month high of $789.87.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.03 by $0.39. The firm had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.99 EPS. On average, equities analysts anticipate that Alphabet Inc. will post $34.29 earnings per share for the current fiscal year.
Several research firms recently commented on GOOG. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $827.13 price objective on the stock in a research note on Tuesday, May 31st. Sanford C. Bernstein set a $950.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. JMP Securities set a $928.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Robert W. Baird set a $900.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $940.00 target price (up from $920.00) on shares of Alphabet in a report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $925.56.
In related news, CEO Lawrence Page sold 33,332 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $700.97, for a total value of $23,364,732.04. Following the sale, the chief executive officer now directly owns 20,804,369 shares in the company, valued at approximately $14,583,238,537.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 43 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $773.49, for a total transaction of $33,260.07. Following the completion of the sale, the director now owns 1,656 shares in the company, valued at $1,280,899.44. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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