Arthur M. Cohen & Associates LLC Raises Stake in Alphabet Inc (GOOG)

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Arthur M. Cohen & Associates LLC lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 6.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,593 shares of the information services provider’s stock after acquiring an additional 413 shares during the quarter. Alphabet makes up about 2.8% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 9th biggest holding. Arthur M. Cohen & Associates LLC’s holdings in Alphabet were worth $7,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Braun Bostich & Associates Inc. bought a new stake in Alphabet in the 1st quarter valued at $107,000. JJJ Advisors Inc. bought a new stake in Alphabet in the 2nd quarter valued at $134,000. Stelac Advisory Services LLC bought a new stake in Alphabet in the 1st quarter valued at $145,000. Well Done LLC bought a new stake in Alphabet in the 1st quarter valued at $176,000. Finally, Clearwater Capital Advisors LLC bought a new stake in Alphabet in the 1st quarter valued at $189,000. Institutional investors own 34.16% of the company’s stock.

Shares of NASDAQ GOOG opened at $1,066.15 on Friday. The firm has a market capitalization of $760.87 billion, a price-to-earnings ratio of 24.60 and a beta of 1.16. 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 Inc has a fifty-two week low of $980.64 and a fifty-two week high of $1,273.89.

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

In other Alphabet news, CAO Amie Thuener O’toole sold 80 shares of Alphabet stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $1,193.80, for a total value of $95,504.00. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at approximately $463,194.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of Alphabet 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 completion of the transaction, 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 sold a total of 87,621 shares of company stock valued at $102,660,942 over the last ninety days. Insiders own 13.11% of the company’s stock.

GOOG has been the subject of several recent research reports. Macquarie restated a “buy” rating on shares of Alphabet in a research note on Thursday, September 27th. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 26th. $1 boosted their price target on Alphabet to $1,375.00 and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. Finally, Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $1,301.81.

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About Alphabet

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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