Albion Financial Group UT Purchases 12,008 Shares of Alphabet Inc. (NASDAQ:GOOG)

Albion Financial Group UT increased its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,640 shares of the information services provider’s stock after buying an additional 12,008 shares during the period. Albion Financial Group UT’s holdings in Alphabet were worth $1,215,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Eads & Heald Wealth Management boosted its holdings in shares of Alphabet by 1,877.8% in the 3rd quarter. Eads & Heald Wealth Management now owns 9,691 shares of the information services provider’s stock worth $932,000 after buying an additional 9,201 shares during the last quarter. J Arnold Wealth Management Co boosted its holdings in shares of Alphabet by 1,967.7% in the 3rd quarter. J Arnold Wealth Management Co now owns 156,791 shares of the information services provider’s stock worth $15,075,000 after buying an additional 149,208 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Alphabet by 2,042.0% in the 3rd quarter. Prospera Financial Services Inc now owns 65,225 shares of the information services provider’s stock worth $6,271,000 after buying an additional 62,180 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Alphabet by 1,899.6% in the 3rd quarter. Keybank National Association OH now owns 876,766 shares of the information services provider’s stock worth $84,302,000 after buying an additional 832,920 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its holdings in shares of Alphabet by 1,891.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 313,627 shares of the information services provider’s stock worth $30,155,000 after buying an additional 297,881 shares during the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOG shares. Raymond James dropped their price objective on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. The Goldman Sachs Group set a $135.00 price objective on shares of Alphabet in a report on Friday, November 18th. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Monday, January 9th. Societe Generale dropped their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Finally, Cowen dropped their price objective on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.56.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 280 shares of the stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now owns 11,200 shares in the company, valued at $1,156,176. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 2.3 %

GOOG stock opened at $93.91 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $93.47 and its 200 day moving average is $102.22. The stock has a market cap of $1.22 trillion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $152.10.

Alphabet (NASDAQ:GOOG – Get Rating) last posted 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). The company had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.40 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Alphabet Company Profile

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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.