Altium Wealth Management LLC Boosts Stock Position in Alphabet Inc (NASDAQ:GOOG)

Altium Wealth Management LLC grew its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 9.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,993 shares of the information services provider’s stock after buying an additional 165 shares during the period. Altium Wealth Management LLC’s holdings in Alphabet were worth $2,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Schroder Investment Management Group increased its stake in Alphabet by 7.8% in the second quarter. Schroder Investment Management Group now owns 203,440 shares of the information services provider’s stock valued at $219,900,000 after acquiring an additional 14,714 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Alphabet by 24.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 670 shares of the information services provider’s stock valued at $817,000 after acquiring an additional 130 shares during the last quarter. CNB Bank increased its stake in Alphabet by 9.8% in the third quarter. CNB Bank now owns 1,136 shares of the information services provider’s stock valued at $1,385,000 after acquiring an additional 101 shares during the last quarter. NewSquare Capital LLC increased its stake in Alphabet by 113.6% in the fourth quarter. NewSquare Capital LLC now owns 47 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 25 shares during the last quarter. Finally, Man Group plc increased its stake in Alphabet by 186.6% in the third quarter. Man Group plc now owns 76,905 shares of the information services provider’s stock valued at $93,747,000 after acquiring an additional 50,073 shares during the last quarter. Hedge funds and other institutional investors own 33.79% of the company’s stock.

Shares of Alphabet stock traded up $13.51 during trading on Friday, reaching $1,465.21. 558,805 shares of the stock were exchanged, compared to its average volume of 1,487,129. 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 stock’s fifty day moving average is $1,359.21 and its 200 day moving average is $1,249.78. The firm has a market cap of $986.86 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. Alphabet Inc has a 1 year low of $1,025.00 and a 1 year high of $1,451.99.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.57 by ($2.45). The firm had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.17 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $13.06 earnings per share. Equities analysts forecast that Alphabet Inc will post 49.03 earnings per share for the current year.

A number of research analysts recently commented on GOOG shares. Sanford C. Bernstein started coverage on Alphabet in a research note on Thursday, January 9th. They issued an “outperform” rating on the stock. Oppenheimer upped their price target on shares of Alphabet from $1,370.00 to $1,530.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. William Blair restated an “outperform” rating on shares of Alphabet in a research report on Tuesday, October 29th. Raymond James upped their price target on shares of Alphabet from $1,360.00 to $1,475.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, ValuEngine lowered shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,486.44.

In other news, major shareholder Capitalg Lp sold 2,085,172 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $52.59, for a total transaction of $109,659,195.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David C. Drummond sold 56,860 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $1,289.62, for a total transaction of $73,327,793.20. Following the sale, the senior vice president now owns 45,806 shares of the company’s stock, valued at $59,072,333.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,344,673 shares of company stock valued at $316,380,721. 12.99% of the stock is currently owned by company insiders.

Alphabet Company 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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