Pitti Group Wealth Management LLC Has $525,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Pitti Group Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,900.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,461 shares of the information services provider’s stock after purchasing an additional 5,188 shares during the period. Pitti Group Wealth Management LLC’s holdings in Alphabet were worth $525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DC Investments Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at $115,000. American National Bank increased its stake in shares of Alphabet by 23.8% in the second quarter. American National Bank now owns 52 shares of the information services provider’s stock worth $114,000 after acquiring an additional 10 shares during the last quarter. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet in the first quarter worth $184,000. Turim 21 Investimentos Ltda. increased its stake in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. Finally, Paragon Private Wealth Management LLC acquired a new position in shares of Alphabet in the first quarter worth $211,000. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Ann Mather sold 280 shares of the stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the transaction, the director now owns 11,200 shares of the company’s stock, valued at $1,156,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 3.4 %

GOOG stock opened at $92.26 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10. The company has a 50-day moving average of $92.94 and a two-hundred day moving average of $103.10. The stock has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GOOG shares. Credit Suisse Group set a $128.00 price target on shares of Alphabet in a research note on Wednesday, October 26th. Raymond James dropped their price target on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Cowen dropped their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. set a $115.00 price target on shares of Alphabet in a research note on Wednesday, October 26th. Finally, Cowen decreased their price objective on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.00.

Alphabet Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.