248,607 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Verity Asset Management Inc.

Verity Asset Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 248,607 shares of the information services provider’s stock, valued at approximately $87,000.

Other hedge funds have also recently made changes to their positions in the company. Shilanski & Associates Inc. raised its stake in shares of Alphabet by 1.8% in the first quarter. Shilanski & Associates Inc. now owns 450 shares of the information services provider’s stock valued at $1,257,000 after buying an additional 8 shares during the period. Minot Wealth Management LLC grew its position in shares of Alphabet by 3.9% in the first quarter. Minot Wealth Management LLC now owns 721 shares of the information services provider’s stock valued at $2,014,000 after purchasing an additional 27 shares in the last quarter. Thomasville National Bank grew its position in shares of Alphabet by 2.0% in the first quarter. Thomasville National Bank now owns 13,586 shares of the information services provider’s stock valued at $37,946,000 after purchasing an additional 261 shares in the last quarter. Mcrae Capital Management Inc. grew its position in shares of Alphabet by 6.7% in the first quarter. Mcrae Capital Management Inc. now owns 111 shares of the information services provider’s stock valued at $310,000 after purchasing an additional 7 shares in the last quarter. Finally, InTrack Investment Management Inc grew its position in shares of Alphabet by 23.7% in the first quarter. InTrack Investment Management Inc now owns 919 shares of the information services provider’s stock valued at $2,568,000 after purchasing an additional 176 shares in the last quarter. 1.49% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.9 %

GOOG opened at $103.90 on Friday. The business has a 50 day simple moving average of $114.29 and a two-hundred day simple moving average of $119.72. The firm has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. Alphabet Inc. has a one year low of $102.21 and a one year high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The firm had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. During the same period in the prior year, the company posted $27.26 EPS. Analysts predict that Alphabet Inc. will post 5.21 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOG. Cowen reduced their price target on Alphabet from $300.00 to $150.00 in a research report on Monday, July 25th. Oppenheimer reduced their target price on Alphabet from $3,290.00 to $165.00 in a research report on Tuesday, July 19th. Citigroup reduced their target price on Alphabet from $158.75 to $145.00 and set a “buy” rating for the company in a research report on Thursday, July 14th. Itau BBA Securities began coverage on Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating for the company. Finally, Susquehanna Bancshares reduced their target price on Alphabet from $187.00 to $150.00 in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.05.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 300 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $108.94, for a total value of $32,682.00. Following the completion of the transaction, the director now owns 11,360 shares of the company’s stock, valued at approximately $1,237,558.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ann Mather sold 300 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $108.94, for a total value of $32,682.00. Following the sale, the director now owns 11,360 shares in the company, valued at approximately $1,237,558.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the sale, the chief accounting officer now owns 1,192 shares in the company, valued at approximately $2,582,754.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,536 shares of company stock valued at $15,729,998. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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