Security Asset Management grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,901.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 53,529 shares of the information services provider’s stock after buying an additional 50,854 shares during the quarter. Alphabet makes up 3.1% of Security Asset Management’s holdings, making the stock its 7th biggest holding. Security Asset Management’s holdings in Alphabet were worth $5,147,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in GOOG. OLD Second National Bank of Aurora boosted its position in Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the period. Carolina Wealth Advisors LLC boosted its position in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the period. NewSquare Capital LLC boosted its position in Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after purchasing an additional 304 shares during the period. Schubert & Co boosted its position in Alphabet by 1,192.9% during the 3rd quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after purchasing an additional 334 shares during the period. Finally, Avion Wealth boosted its position in Alphabet by 1,900.0% during the 3rd quarter. Avion Wealth now owns 380 shares of the information services provider’s stock worth $37,000 after purchasing an additional 361 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 21st. UBS Group set a $115.00 price objective on shares of Alphabet in a research report on Thursday, January 12th. The Goldman Sachs Group set a $135.00 price objective on shares of Alphabet in a research report on Friday, November 18th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a research report on Thursday, January 12th. Finally, Societe Generale decreased their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $140.02.
Insider Buying and Selling at Alphabet
In other news, major shareholder 2021 Gp L.L.C. Gv purchased 201,897 shares of the company’s stock in a transaction on Monday, November 7th. The shares were bought at an average price of $35.16 per share, for a total transaction of $7,098,698.52. Following the completion of the purchase, the insider now owns 1,072,792 shares of the company’s stock, valued at $37,719,366.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 201,897 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was acquired at an average cost of $35.16 per share, for a total transaction of $7,098,698.52. Following the completion of the acquisition, the insider now directly owns 1,072,792 shares of the company’s stock, valued at approximately $37,719,366.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann Mather sold 360 shares of the stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $98.48, for a total transaction of $35,452.80. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,112,824. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 661,702 shares of company stock worth $23,399,217 and have sold 36,566 shares worth $3,413,176. 12.99% of the stock is owned by company insiders.
Alphabet Price Performance
Shares of NASDAQ:GOOG opened at $99.87 on Wednesday. The firm’s 50 day moving average is $93.75 and its two-hundred day moving average is $101.36. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $152.10. The firm has a market capitalization of $1.29 trillion, a P/E ratio of 19.83, a PEG ratio of 1.77 and a beta of 1.08. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.
Alphabet Company Profile
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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