Capital Advisors Inc. OK boosted its position in Alphabet Inc (NASDAQ:GOOG) by 6.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 17,591 shares of the information services provider’s stock after purchasing an additional 1,026 shares during the period. Alphabet comprises 1.1% of Capital Advisors Inc. OK’s investment portfolio, making the stock its 27th biggest position. Capital Advisors Inc. OK’s holdings in Alphabet were worth $26,388,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of GOOG. Advisor Group Holdings Inc. bought a new stake in Alphabet in the 1st quarter worth about $73,436,000. Copper Rock Capital Partners LLC boosted its stake in Alphabet by 6,302.5% in the second quarter. Copper Rock Capital Partners LLC now owns 594,344 shares of the information services provider’s stock valued at $798,166,000 after acquiring an additional 585,061 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 3,723,037 shares of the information services provider’s stock valued at $5,262,923,000 after acquiring an additional 340,937 shares during the last quarter. Nordea Investment Management AB boosted its stake in Alphabet by 101.3% in the second quarter. Nordea Investment Management AB now owns 669,872 shares of the information services provider’s stock valued at $930,532,000 after acquiring an additional 337,121 shares during the last quarter. Finally, Baupost Group LLC MA purchased a new position in Alphabet in the first quarter valued at about $349,424,000. 32.42% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:GOOG traded up $22.16 during trading on Tuesday, reaching $1,541.44. The company had a trading volume of 1,328,500 shares, compared to its average volume of 1,980,280. The company has a fifty day moving average of $1,550.30 and a two-hundred day moving average of $1,394.92. The stock has a market capitalization of $1,033.36 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.10 and a beta of 1.07. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,733.18. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02.
In other news, Director John L. Hennessy sold 60 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $1,495.85, for a total value of $89,751.00. Following the transaction, the director now owns 664 shares of the company’s stock, valued at approximately $993,244.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.99% of the stock is owned by corporate insiders.
A number of research firms have weighed in on GOOG. Raymond James boosted their target price on shares of Alphabet from $1,425.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Deutsche Bank boosted their target price on shares of Alphabet from $1,700.00 to $1,975.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. KeyCorp began coverage on shares of Alphabet in a research note on Monday. They issued an “overweight” rating on the stock. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,688.62.
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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