Gruss & Co. Inc. held its position in Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,304 shares of the information services provider’s stock at the end of the 2nd quarter. Alphabet comprises about 5.4% of Gruss & Co. Inc.’s investment portfolio, making the stock its 6th biggest position. Gruss & Co. Inc.’s holdings in Alphabet were worth $4,820,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Marshall Wace LLP bought a new stake in Alphabet during the 2nd quarter worth approximately $3,615,000. Boston Family Office LLC grew its holdings in Alphabet by 5.3% during the 2nd quarter. Boston Family Office LLC now owns 6,840 shares of the information services provider’s stock worth $6,216,000 after acquiring an additional 342 shares during the last quarter. Comprehensive Portfolio Management LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $276,000. Adell Harriman & Carpenter Inc. grew its holdings in Alphabet by 0.9% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 9,489 shares of the information services provider’s stock worth $8,623,000 after acquiring an additional 80 shares during the last quarter. Finally, Richard Bernstein Advisors LLC grew its holdings in Alphabet by 17.4% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 13,210 shares of the information services provider’s stock worth $12,004,000 after acquiring an additional 1,957 shares during the last quarter. 34.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at $1,026.00 on Wednesday. Alphabet Inc. has a fifty-two week low of $737.02 and a fifty-two week high of $1,048.39. The stock has a market cap of $712,692.13, a PE ratio of 34.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. During the same period in the prior year, the firm posted $9.06 earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis.
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In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $931.44, for a total value of $3,725,760.00. Following the sale, the chief executive officer now directly owns 1,618 shares of the company’s stock, valued at $1,507,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $940.67, for a total transaction of $34,804.79. Following the completion of the sale, the director now directly owns 1,789 shares in the company, valued at $1,682,858.63. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,158 shares of company stock worth $21,355,239. Insiders own 13.92% of the company’s stock.
A number of brokerages have recently issued reports on GOOG. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and issued a $1,000.00 price target on shares of Alphabet in a research report on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, B. Riley restated a “buy” rating and issued a $1,050.00 price target (up previously from $1,032.00) on shares of Alphabet in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirty-nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $1,047.52.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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