Alphabet Inc (GOOG) Stake Boosted by Quest Investment Management LLC

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Quest Investment Management LLC grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 7.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,388 shares of the information services provider’s stock after purchasing an additional 1,059 shares during the period. Alphabet makes up approximately 2.6% of Quest Investment Management LLC’s holdings, making the stock its 6th largest position. Quest Investment Management LLC’s holdings in Alphabet were worth $17,168,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOG. HC Financial Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,156,000. SFE Investment Counsel increased its position in shares of Alphabet by 6.6% during the first quarter. SFE Investment Counsel now owns 2,117 shares of the information services provider’s stock valued at $2,184,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Alphabet by 2.6% during the first quarter. Oppenheimer & Co. Inc. now owns 25,273 shares of the information services provider’s stock valued at $26,076,000 after acquiring an additional 631 shares in the last quarter. Marco Investment Management LLC increased its position in shares of Alphabet by 44.5% during the first quarter. Marco Investment Management LLC now owns 649 shares of the information services provider’s stock valued at $670,000 after acquiring an additional 200 shares in the last quarter. Finally, Pegasus Asset Management Inc. increased its position in shares of Alphabet by 2.8% during the first quarter. Pegasus Asset Management Inc. now owns 2,677 shares of the information services provider’s stock valued at $2,762,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.

Several equities research analysts recently weighed in on GOOG shares. Macquarie reissued a “buy” rating on shares of Alphabet in a research report on Thursday, September 27th. BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 26th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, August 7th. Goldman Sachs Group reissued a “$1,186.96” rating on shares of Alphabet in a research report on Thursday, July 19th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $1,400.00 price target on shares of Alphabet in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $1,311.71.

In other news, Director John L. Hennessy sold 724 shares of Alphabet stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $1,250.30, for a total transaction of $905,217.20. Following the transaction, the director now owns 442 shares in the company, valued at approximately $552,632.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of Alphabet stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $1,200.04, for a total transaction of $12,000,400.00. Following the transaction, the chief executive officer now owns 857 shares in the company, valued at approximately $1,028,434.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,680 shares of company stock valued at $99,664,675. 13.11% of the stock is currently owned by insiders.

NASDAQ:GOOG opened at $1,110.08 on Friday. The company has a quick ratio of 4.13, a current ratio of 4.15 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 12 month low of $960.52 and a 12 month high of $1,273.89. The company has a market capitalization of $830.59 billion, a price-to-earnings ratio of 29.15 and a beta of 1.11.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, topping analysts’ consensus estimates of $9.66 by $2.09. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The business had revenue of $32.66 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same quarter in the previous year, the firm posted $5.01 EPS. The firm’s revenue was up 25.6% on a year-over-year basis.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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