350 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Asset Allocation & Management Company LLC

Asset Allocation & Management Company LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 350 shares of the information services provider’s stock, valued at approximately $978,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hoese & Co LLP lifted its holdings in Alphabet by 400.0% during the 4th quarter. Hoese & Co LLP now owns 10 shares of the information services provider’s stock worth $29,000 after buying an additional 8 shares during the last quarter. Maryland Capital Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth about $29,000. Paragon Capital Management Ltd purchased a new stake in Alphabet during the 4th quarter worth about $35,000. Rather & Kittrell Inc. purchased a new stake in Alphabet during the 4th quarter worth about $34,000. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new stake in Alphabet during the 4th quarter worth about $37,000. 31.20% of the stock is owned by hedge funds and other institutional investors.

GOOG has been the subject of several research reports. Tigress Financial boosted their target price on Alphabet from $3,540.00 to $3,670.00 in a report on Friday, March 18th. Oppenheimer reissued an “outperform” rating and issued a $3,290.00 target price on shares of Alphabet in a report on Thursday, April 28th. Wedbush reissued an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft reduced their target price on Alphabet from $3,150.00 to $2,900.00 in a report on Wednesday, April 27th. Finally, Canaccord Genuity Group reduced their target price on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Twenty-nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $3,315.38.

In other news, Director Ann Mather sold 21 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $2,102.84, for a total transaction of $44,159.64. Following the completion of the sale, the director now directly owns 565 shares in the company, valued at $1,188,104.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the firm’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. Insiders sold a total of 551,675 shares of company stock worth $25,567,428 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

GOOG stock opened at $2,240.68 on Thursday. Alphabet Inc. has a 1 year low of $2,044.16 and a 1 year high of $3,042.00. The firm has a market cap of $1.48 trillion, a P/E ratio of 20.27, a PEG ratio of 1.04 and a beta of 1.13. The stock’s 50 day moving average price is $2,308.00 and its 200 day moving average price is $2,604.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87.

Alphabet shares are scheduled to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be distributed to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The business had revenue of $56.02 billion for the quarter, compared to analysts’ expectations of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period in the prior year, the company earned $26.29 EPS. On average, research analysts predict that Alphabet Inc. will post 111.86 earnings per share for the current year.

About Alphabet (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, 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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