Community Financial Services Group LLC Has $1.74 Million Position in Alphabet Inc. (GOOG)
Community Financial Services Group LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,093 shares of the information services provider’s stock after buying an additional 24 shares during the period. Community Financial Services Group LLC’s holdings in Alphabet were worth $1,736,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. City Financial Investment Co Ltd acquired a new position in Alphabet during the first quarter worth approximately $3,135,000. Sanders Capital LLC boosted its position in Alphabet by 37.1% in the first quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock worth $1,019,026,000 after buying an additional 324,596 shares in the last quarter. Bank of Nova Scotia boosted its position in Alphabet by 240.4% in the first quarter. Bank of Nova Scotia now owns 67,973 shares of the information services provider’s stock worth $56,388,000 after buying an additional 48,004 shares in the last quarter. BSW Wealth Partners boosted its position in Alphabet by 11.9% in the first quarter. BSW Wealth Partners now owns 328 shares of the information services provider’s stock worth $272,000 after buying an additional 35 shares in the last quarter. Finally, Farmers National Bank boosted its position in Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after buying an additional 21 shares in the last quarter. 34.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded up 0.71% during midday trading on Wednesday, reaching $928.77. The company’s stock had a trading volume of 340,392 shares. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The stock has a market capitalization of $643.53 billion, a price-to-earnings ratio of 33.66 and a beta of 0.94. The company has a 50 day moving average of $934.57 and a 200-day moving average of $891.34.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the prior year, the company earned $8.42 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.
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A number of research analysts have recently commented on the company. Cowen and Company reaffirmed an “outperform” rating and set a $1,075.00 target price on shares of Alphabet in a research note on Thursday, August 10th. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 target price (up previously from $1,170.00) on shares of Alphabet in a research note on Thursday, August 10th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a research note on Wednesday, August 9th. BidaskClub cut Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,057.00 target price on the stock in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,026.22.
In other news, Director L John Doerr sold 13,556 shares of the company’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The disclosure for this sale can be found here. Insiders sold 43,169 shares of company stock valued at $40,499,322 over the last ninety days. Corporate insiders own 13.92% of the company’s stock.
Alphabet Company 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.
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