Financial Management Professionals Inc. Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Financial Management Professionals Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,492.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 892 shares of the information services provider’s stock after buying an additional 836 shares during the period. Financial Management Professionals Inc.’s holdings in Alphabet were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOG. OLD Second National Bank of Aurora increased its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC increased its stake in Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares in the last quarter. NewSquare Capital LLC increased its stake in Alphabet by 1,900.0% in the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares in the last quarter. Schubert & Co increased its stake in Alphabet by 1,192.9% in the 3rd quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after buying an additional 334 shares in the last quarter. Finally, Corsicana & Co. increased its stake in Alphabet by 1,900.0% in the 3rd quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares in the last quarter. 28.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Cowen cut their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. Cowen cut their price target on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Societe Generale dropped their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a report on Thursday, January 12th. Finally, Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Monday, January 9th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ann Mather sold 280 shares of Alphabet stock in a transaction 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 completion of the sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the sale, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The disclosure for this sale can be found here. Over the last three months, insiders bought 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 insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $99.28 on Friday. The firm 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 200 day moving average is $102.16. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last announced its earnings results 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 firm 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%. Alphabet’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.40 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 4.68 EPS 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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