RMB Capital Management LLC boosted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,405 shares of the information services provider’s stock after acquiring an additional 118 shares during the period. Alphabet accounts for about 0.6% of RMB Capital Management LLC’s investment portfolio, making the stock its 27th largest position. RMB Capital Management LLC’s holdings in Alphabet were worth $23,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 1 North Wealth Services LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $34,000. TD Capital Management LLC grew its holdings in shares of Alphabet by 38.5% in the fourth quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 10 shares in the last quarter. Truehand Inc purchased a new position in shares of Alphabet in the fourth quarter valued at $38,000. HMS Capital Management LLC purchased a new position in Alphabet during the second quarter worth $38,000. Finally, Thor Advisors LLC purchased a new position in Alphabet during the first quarter worth $56,000. Institutional investors own 33.97% of the company’s stock.

In other news, Director John L. Hennessy sold 75 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $1,238.57, for a total transaction of $92,892.75. Following the sale, the director now owns 276 shares in the company, valued at $341,845.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 39 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,100.00, for a total value of $42,900.00. Following the sale, the director now owns 1,797 shares in the company, valued at approximately $1,976,700. The disclosure for this sale can be found here. Insiders sold 3,744 shares of company stock valued at $4,480,345 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Several research analysts have commented on the stock. Wedbush lifted their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Benchmark reaffirmed a “buy” rating and set a $1,360.00 price objective (up from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, July 23rd. Oppenheimer boosted their target price on shares of Alphabet from $1,342.00 to $1,370.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Four analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,378.93.

Alphabet stock traded down $1.49 during trading hours on Friday, reaching $1,232.76. The stock had a trading volume of 510,410 shares, compared to its average volume of 1,138,254. The company has a market cap of $836.24 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.39 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. The business’s 50 day moving average price is $1,189.93 and its 200-day moving average price is $1,163.30. Alphabet Inc has a 52 week low of $970.11 and a 52 week high of $1,289.27.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company posted $11.75 earnings per share. On average, sell-side analysts forecast that Alphabet Inc will post 51.48 EPS for the current fiscal year.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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