Corient Capital Partners LLC Increases Position in Alphabet Inc (NASDAQ:GOOG)

Corient Capital Partners LLC boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,453 shares of the information services provider’s stock after acquiring an additional 692 shares during the period. Corient Capital Partners LLC’s holdings in Alphabet were worth $4,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orrstown Financial Services Inc. purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $26,000. 1 North Wealth Services LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $40,000. HMS Capital Management LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $38,000. Vista Private Wealth Partners. LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $46,000. Finally, First PREMIER Bank grew its stake in shares of Alphabet by 44.4% in the 3rd quarter. First PREMIER Bank now owns 52 shares of the information services provider’s stock valued at $63,000 after buying an additional 16 shares during the period. 33.78% of the stock is owned by institutional investors.

In other news, SVP David C. Drummond sold 28,430 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $1,266.89, for a total value of $36,017,682.70. Following the sale, the senior vice president now directly owns 45,806 shares in the company, valued at approximately $58,031,163.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 54 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $1,276.45, for a total transaction of $68,928.30. Following the completion of the sale, the chief accounting officer now owns 388 shares in the company, valued at $495,262.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,043 shares of company stock worth $40,364,988. 12.99% of the stock is owned by company insiders.

Several analysts have recently weighed in on GOOG shares. Credit Suisse Group increased their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, October 29th. ValuEngine cut shares of Alphabet from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,412.00 price target for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,460.27.

Alphabet stock opened at $1,298.80 on Wednesday. The firm has a market cap of $904.43 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,323.74. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $1,246.02 and its two-hundred day moving average is $1,180.49.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.57 by ($2.45). The business had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. Alphabet’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $13.06 earnings per share. On average, equities research analysts anticipate that Alphabet Inc will post 49.05 earnings per share for the current fiscal year.

About Alphabet

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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