Oppenheimer Asset Management Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the first quarter, Holdings Channel reports. The fund acquired 13,739 shares of the information services provider’s stock, valued at approximately $11,398,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shepherd Financial Partners LLC purchased a new position in Alphabet during the fourth quarter valued at $3,291,000. Worth Venture Partners LLC purchased a new position in Alphabet during the fourth quarter valued at $1,532,000. Norges Bank purchased a new position in Alphabet during the fourth quarter valued at $2,128,163,000. Adviser Investments LLC purchased a new position in Alphabet during the first quarter valued at $1,276,000. Finally, Farmers & Merchants Investments Inc. boosted its position in Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 34.54% of the company’s stock.

Alphabet Inc. (GOOG) traded up 0.87% during midday trading on Friday, hitting $915.17. The stock had a trading volume of 421,306 shares. The company has a market cap of $634.10 billion, a P/E ratio of 33.17 and a beta of 0.94. The firm’s 50-day moving average price is $937.88 and its 200 day moving average price is $888.43. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter last year, the business posted $8.42 EPS. The business’s revenue was up 21.0% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

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GOOG has been the topic of several recent research reports. Citigroup Inc. reiterated a “buy” rating and set a $1,180.00 price objective on shares of Alphabet in a research report on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research report on Monday, June 12th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price objective on the stock in a research report on Monday, June 26th. Instinet reiterated a “buy” rating and set a $925.00 price objective on shares of Alphabet in a research report on Wednesday, April 26th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $1,026.22.

In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $937.92, for a total value of $3,751,680.00. Following the completion of the transaction, the chief executive officer now owns 1,830 shares of the company’s stock, valued at approximately $1,716,393.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director L John Doerr sold 13,355 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $935.93, for a total value of $12,499,345.15. Following the completion of the transaction, the director now directly owns 3,468 shares of the company’s stock, valued at approximately $3,245,805.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,968 shares of company stock valued at $42,387,042. Company 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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