Stonegate Investment Group LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Stonegate Investment Group LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,883.9% during the third quarter, Holdings Channel.com reports. The firm owned 19,720 shares of the information services provider’s stock after acquiring an additional 18,726 shares during the quarter. Stonegate Investment Group LLC’s holdings in Alphabet were worth $1,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Fingerlakes Wealth Management Inc. lifted its stake in shares of Alphabet by 1,871.2% in the third quarter. Fingerlakes Wealth Management Inc. now owns 4,376 shares of the information services provider’s stock worth $421,000 after buying an additional 4,154 shares in the last quarter. Encompass Wealth Advisors LLC lifted its stake in shares of 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 worth $591,000 after buying an additional 5,839 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of 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 worth $10,680,000 after buying an additional 105,645 shares in the last quarter. Arlington Partners LLC lifted its stake in shares of Alphabet by 1,900.0% in the third quarter. Arlington Partners LLC now owns 13,540 shares of the information services provider’s stock worth $1,302,000 after buying an additional 12,863 shares in the last quarter. Finally, Chesapeake Wealth Management lifted its stake in shares of Alphabet by 1,740.0% in the third quarter. Chesapeake Wealth Management now owns 2,300 shares of the information services provider’s stock worth $221,000 after buying an additional 2,175 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. Cowen dropped their target price on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a research report on Monday, January 9th. Piper Sandler lowered their price objective on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Societe Generale lowered their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, Raymond James lowered their price objective on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.56.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 360 shares of the stock in a transaction on Friday, November 25th. The shares were sold at an average price of $98.48, for a total value of $35,452.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,112,824. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 360 shares of the firm’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $98.48, for a total transaction of $35,452.80. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,112,824. The disclosure for this sale can be found here. Over the last three months, insiders bought 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.9 %

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. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $152.10. The company has a market capitalization of $1.31 trillion, a PE ratio of 20.10, a PEG ratio of 1.74 and a beta of 1.08. The firm’s 50 day simple moving average is $93.62 and its two-hundred day simple moving average is $102.10.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings data 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). The firm had revenue of $69.09 billion during 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 period last year, the company earned $1.40 earnings per share. As a group, equities analysts forecast 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.

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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