Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Fingerlakes Wealth Management Inc.

Fingerlakes Wealth Management Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,871.2% during the 3rd quarter, Holdings Channel reports. The firm owned 4,376 shares of the information services provider’s stock after buying an additional 4,154 shares during the period. Fingerlakes Wealth Management Inc.’s holdings in Alphabet were worth $421,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Encompass Wealth Advisors LLC raised its holdings in Alphabet by 1,883.5% in the third quarter. Encompass Wealth Advisors LLC now owns 6,149 shares of the information services provider’s stock valued at $591,000 after acquiring an additional 5,839 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Alphabet by 1,946.7% in the third quarter. GHP Investment Advisors Inc. now owns 111,072 shares of the information services provider’s stock valued at $10,680,000 after acquiring an additional 105,645 shares in the last quarter. Arlington Partners LLC raised its holdings in Alphabet by 1,900.0% in the third quarter. Arlington Partners LLC now owns 13,540 shares of the information services provider’s stock valued at $1,302,000 after acquiring an additional 12,863 shares in the last quarter. Chesapeake Wealth Management raised its holdings in Alphabet by 1,740.0% in the third quarter. Chesapeake Wealth Management now owns 2,300 shares of the information services provider’s stock valued at $221,000 after acquiring an additional 2,175 shares in the last quarter. Finally, LS Investment Advisors LLC raised its holdings in Alphabet by 1,920.0% in the third quarter. LS Investment Advisors LLC now owns 179,480 shares of the information services provider’s stock valued at $17,257,000 after acquiring an additional 170,595 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction 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 approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction 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 approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. In the last three months, insiders have bought 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG opened at $101.21 on Tuesday. 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 market cap of $1.31 trillion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The company’s 50 day simple moving average is $93.62 and its 200-day simple moving average is $102.10. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10.

Alphabet (NASDAQ:GOOGGet 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 analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. During the same quarter last year, the business earned $1.40 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Cowen reduced their target price 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. Societe Generale dropped their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, October 21st. Finally, JPMorgan Chase & Co. set a $115.00 price target on shares of Alphabet in a research note on Wednesday, October 26th. One research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.56.

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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