HBC Financial Services PLLC Buys 989 Shares of Alphabet Inc. (NASDAQ:GOOG)

HBC Financial Services PLLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,939.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,040 shares of the information services provider’s stock after purchasing an additional 989 shares during the quarter. HBC Financial Services PLLC’s holdings in Alphabet were worth $99,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Alphabet by 1,872.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after buying an additional 17,365,189 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Alphabet by 1,899.8% during the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock worth $654,531,000 after buying an additional 6,343,615 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 6.7% during the second quarter. JPMorgan Chase & Co. now owns 4,012,010 shares of the information services provider’s stock worth $8,776,073,000 after buying an additional 252,657 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Alphabet by 1,722.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 2,859,574 shares of the information services provider’s stock worth $274,948,000 after buying an additional 2,702,638 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in shares of Alphabet by 1,858.3% during the third quarter. Gateway Investment Advisers LLC now owns 2,215,430 shares of the information services provider’s stock worth $213,014,000 after buying an additional 2,102,300 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. Societe Generale cut their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Jefferies Financial Group set a $125.00 target price on Alphabet in a report on Monday, January 9th. Cowen decreased their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. The Goldman Sachs Group set a $135.00 price target on Alphabet in a report on Friday, November 18th. Finally, Sanford C. Bernstein set a $120.00 price target on Alphabet in a report on Thursday, January 12th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.88.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on 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 owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $92.80 on Tuesday. The stock has a market capitalization of $1.20 trillion, a PE ratio of 18.43, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The business has a fifty day moving average price of $93.32 and a two-hundred day moving average price of $102.62. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $152.10.

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

About Alphabet

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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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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