Gillespie Robinson & Grimm Inc. Has $25.74 Million Stock Position in Alphabet Inc (NASDAQ:GOOG)

Gillespie Robinson & Grimm Inc. reduced its position in Alphabet Inc (NASDAQ:GOOG) by 1.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 21,112 shares of the information services provider’s stock after selling 324 shares during the period. Alphabet accounts for 3.1% of Gillespie Robinson & Grimm Inc.’s investment portfolio, making the stock its 18th biggest holding. Gillespie Robinson & Grimm Inc.’s holdings in Alphabet were worth $25,736,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter worth $317,000. Archford Capital Strategies LLC raised its stake in Alphabet by 15.6% during the fourth quarter. Archford Capital Strategies LLC now owns 334 shares of the information services provider’s stock worth $346,000 after purchasing an additional 45 shares during the period. Korea Investment CORP raised its stake in Alphabet by 3.7% during the fourth quarter. Korea Investment CORP now owns 249,858 shares of the information services provider’s stock worth $258,755,000 after purchasing an additional 8,800 shares during the period. Commonwealth Bank of Australia raised its stake in Alphabet by 9.0% during the fourth quarter. Commonwealth Bank of Australia now owns 11,501 shares of the information services provider’s stock worth $11,905,000 after purchasing an additional 951 shares during the period. Finally, Actiam N.V. purchased a new position in shares of Alphabet in the 4th quarter worth $56,322,000. 33.79% of the stock is owned by institutional investors.

In related news, Director John L. Hennessy sold 75 shares of Alphabet stock in a transaction on Monday, July 29th. The shares were sold at an average price of $1,238.57, for a total transaction of $92,892.75. Following the sale, the director now owns 276 shares of the company’s stock, valued at approximately $341,845.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David C. Drummond sold 1,600 shares of Alphabet stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $1,215.39, for a total transaction of $1,944,624.00. Following the sale, the senior vice president now directly owns 44,482 shares in the company, valued at approximately $54,062,977.98. The disclosure for this sale can be found here. Insiders have sold 5,391 shares of company stock worth $6,502,992 in the last quarter. Insiders own 12.99% of the company’s stock.



Several research analysts recently weighed in on GOOG shares. Oppenheimer increased their target price on Alphabet from $1,342.00 to $1,370.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Benchmark restated a “buy” rating and issued a $1,360.00 price objective (up from $1,315.00) on shares of Alphabet in a report on Friday, July 26th. Barclays restated a “buy” rating on shares of Alphabet in a report on Friday, July 26th. Finally, BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $1,378.93.

Shares of NASDAQ:GOOG traded up $7.29 during mid-day trading on Thursday, hitting $1,209.60. 28,956 shares of the company traded hands, compared to its average volume of 1,369,797. The firm has a market cap of $837.40 billion, a P/E ratio of 25.42, a PEG ratio of 1.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,289.27. The firm’s 50 day simple moving average is $1,204.62 and its 200 day simple moving average is $1,171.61.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion for the quarter, compared to the consensus estimate of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $11.75 EPS. Equities research analysts expect that Alphabet Inc will post 51.66 EPS for the current fiscal year.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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