Smithbridge Asset Management Inc. DE Has $11.17 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Smithbridge Asset Management Inc. DE has decreased its stake in Alphabet Inc. by 1.9%, holding 62,941 shares valued at approximately $11.17 million, making it the firm's 12th largest holding.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding estimates, with a revenue of $96.43 billion.
• Several analysts have reiterated "buy" ratings for Alphabet, with price targets raised, and the company currently has a consensus rating of "Moderate Buy".

Smithbridge Asset Management Inc. DE lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,941 shares of the information services provider's stock after selling 1,193 shares during the quarter. Alphabet comprises approximately 2.0% of Smithbridge Asset Management Inc. DE's holdings, making the stock its 12th largest holding. Smithbridge Asset Management Inc. DE's holdings in Alphabet were worth $11,165,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GOOG. Nordea Investment Management AB grew its position in Alphabet by 6.5% in the 2nd quarter. Nordea Investment Management AB now owns 7,709,452 shares of the information services provider's stock worth $1,368,736,000 after purchasing an additional 473,783 shares during the last quarter. TFC Financial Management Inc. lifted its stake in shares of Alphabet by 3.4% in the second quarter. TFC Financial Management Inc. now owns 4,436 shares of the information services provider's stock valued at $787,000 after buying an additional 145 shares during the period. Harbor Asset Planning Inc. acquired a new stake in Alphabet during the second quarter worth about $57,000. Barlow Wealth Partners Inc. grew its position in Alphabet by 1.0% during the second quarter. Barlow Wealth Partners Inc. now owns 264,270 shares of the information services provider's stock worth $47,505,000 after buying an additional 2,564 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management increased its stake in Alphabet by 8.7% during the second quarter. Werba Rubin Papier Wealth Management now owns 13,331 shares of the information services provider's stock valued at $2,365,000 after acquiring an additional 1,072 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.8%

Shares of NASDAQ GOOG opened at $253.79 on Monday. The stock has a market cap of $3.07 trillion, a PE ratio of 27.03, a PEG ratio of 1.72 and a beta of 1.00. The business has a fifty day moving average of $232.18 and a two-hundred day moving average of $193.25. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $257.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted 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. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Pivotal Research raised their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Oppenheimer reissued an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. TD Cowen increased their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $244.68.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company's stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company's stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 243,372 shares of company stock valued at $55,110,740. Corporate insiders own 12.99% of the company's stock.

Alphabet Company 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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