Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Brighton Jones LLC

Brighton Jones LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,863 shares of the information services provider’s stock after purchasing an additional 425 shares during the quarter. Alphabet comprises about 0.4% of Brighton Jones LLC’s investment portfolio, making the stock its 27th largest position. Brighton Jones LLC’s holdings in Alphabet were worth $7,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in Alphabet by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 4,491,336 shares of the information services provider’s stock valued at $9,263,944,000 after acquiring an additional 58,462 shares during the last quarter. Capital International Investors grew its stake in Alphabet by 1.1% in the 1st quarter. Capital International Investors now owns 4,105,991 shares of the information services provider’s stock valued at $8,493,416,000 after acquiring an additional 43,395 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Alphabet by 28.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,594,116 shares of the information services provider’s stock valued at $7,434,896,000 after acquiring an additional 804,739 shares during the last quarter. Sanders Capital LLC grew its stake in Alphabet by 3.7% in the 2nd quarter. Sanders Capital LLC now owns 1,599,084 shares of the information services provider’s stock valued at $4,367,196,000 after acquiring an additional 56,572 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Alphabet by 18.3% in the 1st quarter. Jennison Associates LLC now owns 1,392,266 shares of the information services provider’s stock valued at $2,880,083,000 after acquiring an additional 215,663 shares during the last quarter. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP John Kent Walker sold 2,501 shares of the firm’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $2,517.43, for a total transaction of $6,296,092.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 17 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $2,918.99, for a total transaction of $49,622.83. The disclosure for this sale can be found here. Insiders sold 461,489 shares of company stock valued at $325,800,236 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

GOOG traded down $7.82 on Wednesday, reaching $2,860.30. 23,165 shares of the company’s stock were exchanged, compared to its average volume of 1,313,009. The company’s 50 day moving average is $2,761.21 and its 200-day moving average is $2,467.80. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.85 and a beta of 1.00. Alphabet Inc. has a twelve month low of $1,406.55 and a twelve month high of $2,936.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $19.89 by $7.37. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. The company had revenue of $61.88 billion during the quarter, compared to the consensus estimate of $56.08 billion. During the same quarter last year, the company earned $10.13 earnings per share. Alphabet’s revenue for the quarter was up 61.6% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 101.86 EPS for the current year.

GOOG has been the topic of a number of research reports. Cowen increased their price objective on shares of Alphabet from $2,900.00 to $3,300.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. BMO Capital Markets upped their target price on shares of Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Wolfe Research upped their target price on shares of Alphabet from $2,900.00 to $3,400.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. KeyCorp upped their target price on shares of Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Finally, Canaccord Genuity upped their target price on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $3,087.17.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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