Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Washburn Capital Management Inc.

Washburn Capital Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,820.1% during the 3rd quarter, Holdings Channel reports. The fund owned 12,500 shares of the information services provider’s stock after acquiring an additional 11,849 shares during the quarter. Alphabet makes up 1.1% of Washburn Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. Washburn Capital Management Inc.’s holdings in Alphabet were worth $1,202,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ignite Planners LLC raised its stake in shares of Alphabet by 4.7% during the 2nd quarter. Ignite Planners LLC now owns 134 shares of the information services provider’s stock worth $320,000 after buying an additional 6 shares during the last quarter. Financial Advisors Network Inc. raised its stake in shares of Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after buying an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its stake in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the last quarter. McAdam LLC raised its stake in shares of Alphabet by 2.8% during the 2nd quarter. McAdam LLC now owns 294 shares of the information services provider’s stock worth $643,000 after buying an additional 8 shares during the last quarter. Finally, West Michigan Advisors LLC raised its stake in shares of Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after buying an additional 9 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research note on Wednesday, October 26th. Societe Generale dropped their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 21st. Credit Suisse Group set a $128.00 price objective on Alphabet in a research report on Wednesday, October 26th. Finally, Cowen dropped their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.56.

Alphabet Stock Up 1.9 %

Shares of NASDAQ:GOOG opened at $101.21 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 20.10, a PEG ratio of 1.74 and a beta of 1.08. The stock has a 50-day simple moving average of $93.62 and a 200-day simple moving average of $102.10.

Alphabet (NASDAQ:GOOGGet Rating) last issued 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). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion for the quarter, compared to analysts’ expectations of $70.67 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was 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 $6,872,965.25. The disclosure for this sale can be found here. In the last quarter, insiders bought 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. Company insiders own 12.99% of the company’s stock.

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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