Profund Advisors LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Profund Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,759 shares of the information services provider’s stock after purchasing an additional 8,770 shares during the period. Alphabet comprises approximately 1.7% of Profund Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Profund Advisors LLC’s holdings in Alphabet were worth $32,391,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GOOG. DC Investments Management LLC bought a new stake in Alphabet in the 1st quarter valued at about $115,000. Guardian Wealth Management Inc. bought a new stake in Alphabet in the 1st quarter valued at about $184,000. Turim 21 Investimentos Ltda. raised its stake in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the period. qPULA Trading Management LP bought a new stake in Alphabet in the 1st quarter valued at about $279,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in Alphabet by 29.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after acquiring an additional 26 shares during the period. 27.13% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.3 %

Shares of NASDAQ:GOOG traded down $1.76 during trading on Friday, reaching $136.94. 25,590,191 shares of the company traded hands, compared to its average volume of 25,945,371. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 1.05. The business’s fifty day moving average is $134.60 and its 200-day moving average is $128.32. Alphabet Inc. has a 52-week low of $85.57 and a 52-week high of $142.38.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. As a group, analysts forecast that Alphabet Inc. will post 5.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Susquehanna upped their price target on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird upped their price target on Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Wedbush assumed coverage on Alphabet in a research report on Monday, August 21st. They set an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $130.69.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 250 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $124.36, for a total transaction of $31,090.00. Following the completion of the transaction, the director now owns 14,226 shares in the company, valued at $1,769,145.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director Frances Arnold sold 250 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the completion of the transaction, the director now owns 14,226 shares in the company, valued at $1,769,145.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the transaction, the director now owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock worth $23,425,367 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.