Schubert & Co Buys Shares of 1,749 Alphabet Inc. $GOOG

Key Points

• Schubert & Co has acquired 1,749 shares of Alphabet Inc. valued at approximately $310,000 during the second quarter.
• Insider sales included CEO Sundar Pichai selling 32,500 shares for over $8 million, indicating a 1.35% decrease in his ownership.
• Alphabet's stock has a 52-week range between $142.66 and $257.88, and the company reported $2.31 earnings per share, exceeding estimates.

Schubert & Co bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,749 shares of the information services provider's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after acquiring an additional 440,526 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last 90 days. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of GOOG opened at $251.34 on Wednesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.88. The firm's 50 day moving average price is $234.23 and its 200 day moving average price is $194.41. The company has a market cap of $3.04 trillion, a P/E ratio of 26.77, a PEG ratio of 1.74 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on GOOG shares. UBS Group set a $255.00 price objective on shares of Alphabet and gave the stock a "neutral" rating in a report on Thursday, October 9th. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, October 8th. Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $246.26.

Alphabet Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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