2 weeks Ago By ABMN Staff
Comerica Bank trimmed its stake in Alphabet Inc. ( NASDAQ:GOOG – Free Report ) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
The institutional investor owned 1,198,682 shares of the information services provider’s stock after selling 19,369 shares during the quarter. Alphabet accounts for 0.9% of Comerica Bank’s portfolio, making the stock its 12th largest position.
Comerica Bank’s holdings in Alphabet were worth $219,862,000 as of its most recent SEC filing. A number of other hedge funds have also made changes to their positions in the stock. Twelve Points Wealth Management LLC lifted its holdings in Alphabet by 0.
7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC lifted its holdings in Alphabet by 3.
1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc.
TX ADV lifted its holdings in Alphabet by 1.6% during the 2nd quarter. Investment Advisory Services Inc.
TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV lifted its holdings in Alphabet by 2.
0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the last quarter.
Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the last quarter.
27.26% of the stock is owned by hedge funds and other institutional investors. Analyst Ratings Changes Several equities research analysts have issued reports on GOOG shares.
Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.
00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock.
in a research report on Friday, June 28th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th.
Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.
29. Insiders Place Their Bets In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.
99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.
91. The sale was disclosed in a filing with the SEC, which is available at the SEC website . In other news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd.
The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45.
Following the completion of the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink .
Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.
38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91.
The disclosure for this sale can be found here . Over the last three months, insiders sold 203,367 shares of company stock worth $34,079,756. 12.
99% of the stock is owned by corporate insiders. Alphabet Stock Up 0.9 % Shares of NASDAQ GOOG opened at $165.
29 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.
08 and a current ratio of 2.08. Alphabet Inc.
has a 52 week low of $121.46 and a 52 week high of $193.31.
The stock has a market capitalization of $2.04 trillion, a P/E ratio of 25.35, a PEG ratio of 1.
21 and a beta of 1.04. The stock’s fifty day moving average is $164.
34 and its 200 day moving average is $167.77. Alphabet ( NASDAQ:GOOG – Get Free Report ) last issued its earnings results on Tuesday, July 23rd.
The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.
04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.
22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.
70%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis.
During the same period in the previous year, the company posted $1.44 earnings per share. Sell-side analysts forecast that Alphabet Inc.
will post 7.63 earnings per share for the current fiscal year. Alphabet Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th.
Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th.
This represents a $0.80 dividend on an annualized basis and a yield of 0.48%.
Alphabet’s payout ratio is currently 12.27%. About Alphabet ( Free Report ) Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America.
It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. Recommended Stories Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Alphabet Inc. ( NASDAQ:GOOG – Free Report ). Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.
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