Alphabet Inc (GOOG) Position Increased by Parkside Investments LLC

Parkside Investments LLC boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,586 shares of the information services provider’s stock after purchasing an additional 205 shares during the quarter. Alphabet comprises approximately 1.6% of Parkside Investments LLC’s holdings, making the stock its 13th largest position. Parkside Investments LLC’s holdings in Alphabet were worth $3,203,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. IMS Capital Management lifted its position in shares of Alphabet by 2.9% in the 2nd quarter. IMS Capital Management now owns 1,465 shares of the information services provider’s stock worth $1,634,000 after acquiring an additional 41 shares during the period. Trust Co. of Virginia VA lifted its position in shares of Alphabet by 7.2% during the 2nd quarter. Trust Co. of Virginia VA now owns 614 shares of the information services provider’s stock worth $685,000 after buying an additional 41 shares during the period. Intl Fcstone Inc. lifted its position in shares of Alphabet by 13.8% during the 2nd quarter. Intl Fcstone Inc. now owns 347 shares of the information services provider’s stock worth $387,000 after buying an additional 42 shares during the period. Security National Trust Co. lifted its position in shares of Alphabet by 1.9% during the 2nd quarter. Security National Trust Co. now owns 2,229 shares of the information services provider’s stock worth $2,487,000 after buying an additional 42 shares during the period. Finally, Providence First Trust Co lifted its position in shares of Alphabet by 2.7% during the 2nd quarter. Providence First Trust Co now owns 1,581 shares of the information services provider’s stock worth $1,764,000 after buying an additional 42 shares during the period. Institutional investors own 34.16% of the company’s stock.

In related news, VP Amie Thuener O’toole sold 80 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $1,206.20, for a total transaction of $96,496.00. Following the completion of the sale, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $468,005.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $1,230.21, for a total value of $12,302,100.00. Following the sale, the chief executive officer now directly owns 560 shares of the company’s stock, valued at $688,917.60. The disclosure for this sale can be found here. Insiders have sold a total of 77,621 shares of company stock valued at $91,938,840 over the last ninety days. Insiders own 13.11% of the company’s stock.

Several research firms recently commented on GOOG. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 26th. Raymond James restated an “outperform” rating and set a $1,405.00 target price (up previously from $1,240.00) on shares of Alphabet in a research report on Tuesday, July 24th. Royal Bank of Canada raised their target price on Alphabet from $1,285.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. Nomura restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $1,301.81.

GOOG stock opened at $1,036.21 on Wednesday. Alphabet Inc has a fifty-two week low of $980.64 and a fifty-two week high of $1,273.89. The firm has a market cap of $745.69 billion, a P/E ratio of 22.95 and a beta of 1.11. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The firm had revenue of $27.16 billion during the quarter.

Alphabet 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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