Campbell Newman Asset Management Inc. Has $4.35 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Campbell Newman Asset Management Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,899.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,520 shares of the information services provider’s stock after purchasing an additional 43,243 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Alphabet were worth $4,354,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GOOGL. IAG Wealth Partners LLC grew its position in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares during the period. Artemis Wealth Advisors LLC lifted its stake in Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares in the last quarter. Horizons Wealth Management bought a new position in Alphabet during the 2nd quarter valued at $33,000. Schubert & Co lifted its stake in Alphabet by 1,200.0% during the 3rd quarter. Schubert & Co now owns 364 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 336 shares in the last quarter. Finally, Carolina Wealth Advisors LLC lifted its stake in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 380 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GOOGL shares. Wells Fargo & Company dropped their price objective on Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Royal Bank of Canada dropped their price objective on Alphabet from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Citigroup dropped their price objective on Alphabet from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. New Street Research began coverage on Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective on the stock. Finally, Rosenblatt Securities lowered their target price on Alphabet from $156.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the transaction, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $4,149,665.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. 11.44% of the stock is owned by insiders.

Alphabet Stock Up 1.8 %

GOOGL stock opened at $99.79 on Tuesday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.29 trillion, a PE ratio of 19.82, a PEG ratio of 1.72 and a beta of 1.09. The stock has a 50-day simple moving average of $93.12 and a two-hundred day simple moving average of $101.49.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same period in the previous year, the firm posted $1.40 EPS. On average, equities analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Alphabet 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.