Parthenon LLC Raises Stake in Alphabet Inc. (GOOG)
Parthenon LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,024 shares of the information services provider’s stock after buying an additional 146 shares during the period. Alphabet comprises 1.7% of Parthenon LLC’s portfolio, making the stock its 18th largest position. Parthenon LLC’s holdings in Alphabet were worth $7,292,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of GOOG. Riggs Asset Managment Co. Inc. boosted its stake in shares of Alphabet by 39.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the period. Farmers National Bank boosted its stake in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the period. St. Johns Investment Management Company LLC boosted its stake in shares of Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the period. Cribstone Capital Management LLC boosted its stake in shares of Alphabet by 5.7% in the second quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock valued at $167,000 after buying an additional 10 shares during the period. Finally, Feltz Wealth PLAN Inc. purchased a new stake in shares of Alphabet during the first quarter valued at about $170,000. 34.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ GOOG) traded down 0.130% during mid-day trading on Monday, hitting $914.695. The stock had a trading volume of 434,401 shares. Alphabet Inc. has a 12 month low of $727.54 and a 12 month high of $988.25. The stock’s 50-day moving average is $934.52 and its 200 day moving average is $896.81. The firm has a market cap of $633.77 billion, a PE ratio of 33.150 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The firm 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%. Alphabet’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 EPS. Equities research analysts predict that Alphabet Inc. will post $30.60 earnings per share for the current fiscal year.
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Several equities research analysts have recently issued reports on the company. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 target price on the stock. in a report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reaffirmed a “hold” rating and issued a $980.00 target price (down from $990.00) on shares of Alphabet in a report on Monday, July 17th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Friday. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $1,200.00 target price on shares of Alphabet in a report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $1,030.47.
In related news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the completion of the sale, the chief executive officer now owns 2,058 shares in the company, valued at $2,019,824.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,169 shares of company stock worth $44,206,482. 13.92% of the stock is currently owned by 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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