Portland Global Advisors LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Portland Global Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,940 shares of the information services provider’s stock after purchasing an additional 3,743 shares during the period. Portland Global Advisors LLC’s holdings in Alphabet were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. OLD Second National Bank of Aurora raised 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 raised 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 raised 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 raised 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. raised 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. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was bought at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The disclosure for this purchase can be found here. Over the last ninety days, 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Cowen decreased their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 21st. The Goldman Sachs Group set a $135.00 price target on shares of Alphabet in a report on Friday, November 18th. JPMorgan Chase & Co. set a $115.00 price target on shares of Alphabet in a report on Wednesday, October 26th. Finally, Sanford C. Bernstein set a $120.00 price target on shares of Alphabet in a report on Thursday, January 12th. One investment 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, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $140.56.

Alphabet Stock Performance

Alphabet stock opened at $99.28 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 firm has a 50-day moving average of $93.52 and a 200-day moving average of $102.16. The firm has a market cap of $1.28 trillion, a P/E ratio of 19.72, a P/E/G 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 earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The firm had revenue of $69.09 billion for the quarter, compared to analysts’ expectations of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 4.68 EPS for the current 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.