Copper Rock Capital Partners LLC Boosts Stake in Alphabet Inc (NASDAQ:GOOG)

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Copper Rock Capital Partners LLC increased its stake in Alphabet Inc (NASDAQ:GOOG) by 6,302.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 594,344 shares of the information services provider’s stock after purchasing an additional 585,061 shares during the quarter. Alphabet makes up approximately 2.5% of Copper Rock Capital Partners LLC’s portfolio, making the stock its 7th biggest holding. Copper Rock Capital Partners LLC owned 0.09% of Alphabet worth $798,166,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Alphabet by 1.5% in the 1st quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock worth $23,563,444,000 after purchasing an additional 295,467 shares during the period. State Street Corp lifted its holdings in shares of Alphabet by 0.8% during the 1st quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock worth $13,737,468,000 after acquiring an additional 98,084 shares during the last quarter. Capital International Investors lifted its holdings in shares of Alphabet by 5.0% during the 1st quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock worth $5,297,617,000 after acquiring an additional 218,823 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 4,403,934 shares of the information services provider’s stock worth $5,110,389,000 after acquiring an additional 149,012 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Alphabet by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 3,707,376 shares of the information services provider’s stock worth $4,310,974,000 after purchasing an additional 22,951 shares during the last quarter. 32.91% of the stock is currently owned by institutional investors.

Several research firms have weighed in on GOOG. BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a research note on Friday. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Finally, Oppenheimer boosted their price target on shares of Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,670.80.

Shares of NASDAQ GOOG traded down $68.84 during midday trading on Friday, hitting $1,462.61. 133,273 shares of the company traded hands, compared to its average volume of 1,418,217. Alphabet Inc has a 12-month low of $1,013.54 and a 12-month high of $1,586.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The stock has a 50-day moving average price of $1,472.88 and a 200 day moving average price of $1,376.69. The firm has a market cap of $1,001.97 billion, a P/E ratio of 29.64, a P/E/G ratio of 2.33 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.18 by $1.95. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The company had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. As a group, equities analysts expect that Alphabet Inc will post 42.06 earnings per share for the current year.

In other Alphabet news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $1,434.85, for a total value of $86,091.00. Following the sale, the director now owns 629 shares in the company, valued at $902,520.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 32 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the sale, the director now owns 1,119 shares in the company, valued at approximately $1,587,178.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212 shares of company stock worth $303,047. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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