Cim Investment Management Inc. Has $3.43 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cim Investment Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,370 shares of the information services provider’s stock after purchasing an additional 5 shares during the quarter. Alphabet makes up about 1.1% of Cim Investment Management Inc.’s investment portfolio, making the stock its 10th largest position. Cim Investment Management Inc.’s holdings in Alphabet were worth $3,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Saban Cheryl bought a new position in Alphabet in the 2nd quarter valued at $25,000. Laurel Wealth Planning LLC raised its position in shares of Alphabet by 450.0% during the second quarter. Laurel Wealth Planning LLC now owns 11 shares of the information services provider’s stock worth $28,000 after acquiring an additional 9 shares during the last quarter. Corsicana & Co. bought a new stake in shares of Alphabet during the second quarter worth $50,000. Selective Wealth Management Inc. grew its stake in shares of Alphabet by 29.4% during the second quarter. Selective Wealth Management Inc. now owns 22 shares of the information services provider’s stock worth $55,000 after purchasing an additional 5 shares during the period. Finally, Running Point Capital Advisors LLC acquired a new stake in shares of Alphabet during the second quarter worth $60,000. Hedge funds and other institutional investors own 31.55% of the company’s stock.

GOOG has been the subject of a number of analyst reports. Barclays lifted their price objective on Alphabet from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. KeyCorp boosted their target price on Alphabet from $2,681.00 to $3,071.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Truist Securities boosted their target price on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Bank of America boosted their target price on Alphabet from $2,755.00 to $3,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Finally, Sanford C. Bernstein boosted their target price on Alphabet from $3,000.00 to $3,200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $3,097.60.

In related news, CEO Sundar Pichai sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $2,614.63, for a total transaction of $7,843,890.00. Following the sale, the chief executive officer now owns 5,182 shares of the company’s stock, valued at $13,549,012.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $3,802.28, for a total value of $760,456.00. The disclosure for this sale can be found here. Insiders sold 508,728 shares of company stock worth $459,355,508 in the last ninety days. 12.99% of the stock is owned by company insiders.

NASDAQ:GOOG traded up $65.82 on Thursday, hitting $2,823.82. The company’s stock had a trading volume of 33,155 shares, compared to its average volume of 1,306,943. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $2,807.00 and a two-hundred day moving average of $2,570.43. The firm has a market capitalization of $1.88 trillion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00. Alphabet Inc. has a one year low of $1,514.62 and a one year high of $2,936.41.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The firm had revenue of $61.88 billion for the quarter, compared to analyst estimates of $56.08 billion. During the same quarter in the prior year, the company earned $10.13 earnings per share. The business’s revenue for the quarter was up 61.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 101.86 EPS for the current year.

Alphabet Profile

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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