1900 Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,901.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,708 shares of the information services provider’s stock after purchasing an additional 12,073 shares during the quarter. 1900 Wealth Management LLC’s holdings in Alphabet were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Curated Wealth Partners LLC grew its stake in shares of Alphabet by 1,916.3% in the third quarter. Curated Wealth Partners LLC now owns 5,081 shares of the information services provider’s stock worth $489,000 after purchasing an additional 4,829 shares during the last quarter. Optimum Investment Advisors grew its stake in shares of Alphabet by 1,931.0% in the third quarter. Optimum Investment Advisors now owns 26,220 shares of the information services provider’s stock worth $2,521,000 after purchasing an additional 24,929 shares during the last quarter. Bangor Savings Bank grew its stake in shares of Alphabet by 1,992.7% in the third quarter. Bangor Savings Bank now owns 22,601 shares of the information services provider’s stock worth $2,173,000 after purchasing an additional 21,521 shares during the last quarter. Mechanics Financial Corp grew its stake in shares of Alphabet by 1,888.8% in the third quarter. Mechanics Financial Corp now owns 8,910 shares of the information services provider’s stock worth $857,000 after purchasing an additional 8,462 shares during the last quarter. Finally, Aurora Investment Managers LLC. grew its stake in shares of Alphabet by 1,900.0% in the third quarter. Aurora Investment Managers LLC. now owns 32,960 shares of the information services provider’s stock worth $3,169,000 after purchasing an additional 31,312 shares during the last quarter. 28.69% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the sale, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $101.13, for a total value of $86,466.15. Following the completion of the sale, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. In the last quarter, insiders purchased 661,702 shares of company stock valued at $23,399,217 and sold 201,777 shares valued at $9,667,035. 12.99% of the stock is currently owned by insiders.
Alphabet Price Performance
Shares of NASDAQ GOOG opened at $99.16 on Friday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The firm has a market cap of $1.28 trillion, a P/E ratio of 19.69, a PEG ratio of 1.74 and a beta of 1.08. The company has a 50 day moving average of $93.58 and a 200 day moving average of $101.87. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.
Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Alphabet’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 4.68 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
GOOG has been the subject of several research analyst reports. Oppenheimer lowered their price objective on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Monday, January 9th. Credit Suisse Group set a $145.00 price objective on shares of Alphabet in a report on Wednesday. Raymond James lowered their price objective on shares of Alphabet from $120.00 to $116.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a report on Thursday, January 12th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.90.
About Alphabet
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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