Alphabet Inc. (NASDAQ:GOOGL) is Sky Investment Group LLC’s 8th Largest Position

Sky Investment Group LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,187 shares of the information services provider’s stock after purchasing an additional 140 shares during the period. Alphabet comprises approximately 2.2% of Sky Investment Group LLC’s holdings, making the stock its 8th biggest holding. Sky Investment Group LLC’s holdings in Alphabet were worth $9,125,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dravo Bay LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $28,000. Financial Enhancement Group LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $31,000. Wealthgate Family Office LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $32,000. Verity Asset Management Inc. grew its stake in Alphabet by 536,206.4% in the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock worth $39,000 after acquiring an additional 589,827 shares during the period. Finally, Advocacy Wealth Management Services LLC grew its stake in Alphabet by 72.7% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock worth $41,000 after acquiring an additional 8 shares during the period. 1.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Monness Crespi & Hardt lowered their target price on shares of Alphabet to $145.00 in a research note on Tuesday, July 5th. Credit Suisse Group lowered their target price on shares of Alphabet from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Itau BBA Securities started coverage on shares of Alphabet in a research note on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price objective for the company. Guggenheim lowered their price objective on shares of Alphabet to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Morgan Stanley boosted their price objective on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.41.

Insiders Place Their Bets

In other Alphabet news, Director Ann Mather sold 20 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 20 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the completion of the transaction, the director now owns 33,260 shares of the company’s stock, valued at approximately $3,658,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,536 shares of company stock worth $15,729,998. Insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $100.14 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a fifty-two week low of $98.79 and a fifty-two week high of $151.55. The firm has a 50-day simple moving average of $111.79 and a 200 day simple moving average of $117.82. The company has a market cap of $1.31 trillion, a PE ratio of 18.63, a P/E/G ratio of 1.64 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The business had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same period in the prior year, the company earned $27.26 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.21 EPS for the current year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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