Parthenon LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,914.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,035 shares of the information services provider’s stock after purchasing an additional 137,835 shares during the quarter. Alphabet comprises approximately 2.5% of Parthenon LLC’s portfolio, making the stock its 11th biggest position. Parthenon LLC’s holdings in Alphabet were worth $13,945,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Narwhal Capital Management raised its stake in shares of Alphabet by 1,822.4% during the third quarter. Narwhal Capital Management now owns 286,415 shares of the information services provider’s stock worth $27,539,000 after purchasing an additional 271,516 shares during the last quarter. Opes Wealth Management LLC raised its position in Alphabet by 1,900.0% in the third quarter. Opes Wealth Management LLC now owns 2,880 shares of the information services provider’s stock worth $277,000 after acquiring an additional 2,736 shares in the last quarter. Lewis Capital Management LLC raised its position in Alphabet by 1,928.0% in the third quarter. Lewis Capital Management LLC now owns 4,340 shares of the information services provider’s stock worth $417,000 after acquiring an additional 4,126 shares in the last quarter. West Coast Financial LLC raised its position in Alphabet by 2,042.9% in the third quarter. West Coast Financial LLC now owns 10,586 shares of the information services provider’s stock worth $1,018,000 after acquiring an additional 10,092 shares in the last quarter. Finally, Optas LLC raised its position in Alphabet by 1,927.2% in the third quarter. Optas LLC now owns 95,604 shares of the information services provider’s stock worth $9,191,000 after acquiring an additional 90,888 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on GOOG. Credit Suisse Group set a $145.00 price objective on Alphabet in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 21st. The Goldman Sachs Group set a $135.00 price target on Alphabet in a research report on Friday, November 18th. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research report on Wednesday, October 26th. Finally, Societe Generale dropped their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $140.90.
Alphabet Stock Up 1.6 %
Shares of NASDAQ:GOOG opened at $100.71 on Friday. The stock’s 50-day moving average price is $93.60 and its two-hundred day moving average price is $101.73. 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 Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.70 and a beta of 1.08.
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) 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 business had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. During the same period in the previous year, the business posted $1.40 earnings per share. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 4.68 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 661,702 shares of company stock valued at $23,399,217 and have sold 202,117 shares valued at $9,699,988. 12.99% of the stock is owned by corporate insiders.
Alphabet 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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