Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Stonegate Investment Group LLC

Stonegate Investment Group LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 20,007 shares of the information services provider’s stock after acquiring an additional 387 shares during the period. Stonegate Investment Group LLC’s holdings in Alphabet were worth $3,345,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Abich Financial Wealth Management LLC increased its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet during the 2nd quarter worth $37,000. HWG Holdings LP purchased a new stake in Alphabet during the 2nd quarter worth $40,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet during the 2nd quarter worth $44,000. Finally, Hoese & Co LLP boosted its position in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOG. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Pivotal Research initiated coverage on shares of Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective for the company. Finally, Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Stock Performance

Shares of Alphabet stock opened at $165.05 on Friday. The firm has a market cap of $2.04 trillion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s 50-day simple moving average is $163.18 and its 200-day simple moving average is $169.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

About Alphabet

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.