SlateStone Wealth LLC Has $5.39 Million Stock Position in Alphabet Inc (NASDAQ:GOOG)

SlateStone Wealth LLC increased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,030 shares of the information services provider’s stock after purchasing an additional 190 shares during the period. Alphabet makes up about 1.2% of SlateStone Wealth LLC’s holdings, making the stock its 20th biggest position. SlateStone Wealth LLC’s holdings in Alphabet were worth $5,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Lighthouse Financial Advisors Inc. acquired a new stake in Alphabet in the fourth quarter valued at approximately $25,000. 1 North Wealth Services LLC acquired a new stake in Alphabet in the third quarter valued at approximately $40,000. OLD Second National Bank of Aurora grew its stake in Alphabet by 50.0% in the fourth quarter. OLD Second National Bank of Aurora now owns 30 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 10 shares during the period. Wealthcare Capital Management LLC grew its stake in Alphabet by 300.0% in the fourth quarter. Wealthcare Capital Management LLC now owns 32 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 24 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $43,000. 33.80% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the company. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, February 4th. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, October 29th. Cfra raised their price objective on Alphabet from $1,737.00 to $1,761.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $1,535.00 price objective (up previously from $1,460.00) on shares of Alphabet in a research note on Monday, February 3rd. Finally, Cleveland Research reissued a “neutral” rating on shares of Alphabet in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,591.10.

In related news, CAO Amie Thuener O’toole sold 55 shares of Alphabet stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1,279.57, for a total transaction of $70,376.35. Following the sale, the chief accounting officer now directly owns 388 shares in the company, valued at $496,473.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 31 shares of Alphabet stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1,459.40, for a total value of $45,241.40. The disclosure for this sale can be found here. Insiders have sold 5,013,643 shares of company stock worth $389,654,791 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Shares of GOOG stock traded up $6.08 during trading hours on Friday, reaching $1,520.74. The company had a trading volume of 1,197,360 shares, compared to its average volume of 1,664,224. Alphabet Inc has a 12 month low of $1,025.00 and a 12 month high of $1,529.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 3.35. The business has a fifty day simple moving average of $1,431.92 and a 200-day simple moving average of $1,295.96. The company has a market cap of $1,040.52 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.69 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, February 3rd. The information services provider reported $15.35 EPS for the quarter, topping the Zacks’ consensus estimate of $12.76 by $2.59. The business had revenue of $46.08 billion for the quarter, compared to analyst estimates of $46.87 billion. Alphabet had a return on equity of 18.66% and a net margin of 21.22%. Alphabet’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $10.95 earnings per share. On average, equities research analysts expect that Alphabet Inc will post 54.5 earnings per share for the current 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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