Asset Dedication LLC Acquires 26,125 Shares of Alphabet Inc. (NASDAQ:GOOG)

Asset Dedication LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,833.3% in the 3rd quarter, Holdings Channel reports. The fund owned 27,550 shares of the information services provider’s stock after buying an additional 26,125 shares during the quarter. Asset Dedication LLC’s holdings in Alphabet were worth $2,663,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOG. Osborne Partners Capital Management LLC increased its stake in Alphabet by 1,908.9% during the 3rd quarter. Osborne Partners Capital Management LLC now owns 184,079 shares of the information services provider’s stock valued at $17,699,000 after purchasing an additional 174,916 shares in the last quarter. Global Strategic Investment Solutions LLC increased its stake in Alphabet by 1,854.3% during the 3rd quarter. Global Strategic Investment Solutions LLC now owns 3,205 shares of the information services provider’s stock valued at $308,000 after purchasing an additional 3,041 shares in the last quarter. Blue Chip Partners Inc. increased its stake in Alphabet by 1,957.4% during the 3rd quarter. Blue Chip Partners Inc. now owns 229,004 shares of the information services provider’s stock valued at $22,019,000 after purchasing an additional 217,873 shares in the last quarter. Bank of Stockton increased its stake in Alphabet by 1,766.4% during the 3rd quarter. Bank of Stockton now owns 4,890 shares of the information services provider’s stock valued at $470,000 after purchasing an additional 4,628 shares in the last quarter. Finally, Mastrapasqua Asset Management Inc. increased its stake in Alphabet by 1,923.1% during the 3rd quarter. Mastrapasqua Asset Management Inc. now owns 163,612 shares of the information services provider’s stock valued at $15,731,000 after purchasing an additional 155,525 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of Alphabet stock in a transaction dated Monday, October 24th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares in the company, valued at approximately $195,878,216. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of Alphabet stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. JPMorgan Chase & Co. set a $115.00 price objective on shares of Alphabet in a research note on Wednesday, October 26th. Credit Suisse Group set a $128.00 price objective on shares of Alphabet in a research note on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Monday, January 9th. Cowen dropped their price target 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. Finally, Oppenheimer dropped their price target on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Price Performance

NASDAQ GOOG opened at $99.28 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $152.10. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.63 and a beta of 1.08. The company’s 50 day moving average is $93.52 and its two-hundred day moving average is $102.16. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

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

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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