Benin Management CORP Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Benin Management CORP boosted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,709 shares of the information services provider’s stock after purchasing an additional 1,586 shares during the period. Alphabet comprises approximately 1.6% of Benin Management CORP’s portfolio, making the stock its 11th biggest holding. Benin Management CORP’s holdings in Alphabet were worth $5,658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares during the period. Jennison Associates LLC lifted its stake in shares of Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares during the period. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Check Out Our Latest Research Report on GOOG

Alphabet Price Performance

GOOG opened at $201.90 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. The stock has a 50-day moving average price of $187.95 and a 200-day moving average price of $175.21. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,387 shares of company stock valued at $24,368,654. Insiders own 12.99% of the company’s stock.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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