Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Blue Chip Partners Inc.

Blue Chip Partners Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,957.4% in the third quarter, Holdings Channel reports. The firm owned 229,004 shares of the information services provider’s stock after buying an additional 217,873 shares during the period. Alphabet comprises 3.0% of Blue Chip Partners Inc.’s investment portfolio, making the stock its 7th largest holding. Blue Chip Partners Inc.’s holdings in Alphabet were worth $22,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. OLD Second National Bank of Aurora boosted its holdings in Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares during the period. Carolina Wealth Advisors LLC boosted its holdings in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the period. NewSquare Capital LLC boosted its holdings in Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 304 shares during the period. Schubert & Co boosted its holdings in Alphabet by 1,192.9% during the 3rd quarter. Schubert & Co now owns 362 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 334 shares during the period. Finally, Corsicana & Co. boosted its holdings in Alphabet by 1,900.0% during the 3rd quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 380 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 5.7 %

NASDAQ:GOOG opened at $99.28 on Friday. The firm has a market cap of $1.28 trillion, a P/E ratio of 19.72, a PEG ratio of 1.63 and a beta of 1.08. 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 stock’s 50 day simple moving average is $93.52 and its 200-day simple moving average is $102.16. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last released its 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). The company had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 EPS. Equities analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity

In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following 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 filing with the SEC, which is available at the SEC website. In related news, Director Ann Mather sold 280 shares of Alphabet stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet 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 completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group set a $115.00 price objective on Alphabet in a research note on Thursday, January 12th. Raymond James decreased their price objective on Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Cowen decreased their price objective on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Credit Suisse Group set a $128.00 price objective on Alphabet in a research note on Wednesday, October 26th. Finally, Sanford C. Bernstein set a $120.00 price objective on Alphabet in a research note on Thursday, January 12th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $140.56.

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.

See Also

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)

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