Welch & Forbes LLC Has $115.07 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Welch & Forbes LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,906.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,196,817 shares of the information services provider’s stock after purchasing an additional 1,137,178 shares during the period. Alphabet comprises 2.2% of Welch & Forbes LLC’s portfolio, making the stock its 8th biggest position. Welch & Forbes LLC’s holdings in Alphabet were worth $115,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. OLD Second National Bank of Aurora raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares in the last quarter. NewSquare Capital LLC raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after acquiring an additional 304 shares in the last quarter. Schubert & Co raised its position in shares of Alphabet by 1,192.9% in the 3rd quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after acquiring an additional 334 shares in the last quarter. Finally, Corsicana & Co. raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after acquiring an additional 380 shares in the last quarter. 28.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GOOG. Societe Generale reduced their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Raymond James dropped their target price on Alphabet from $120.00 to $116.00 and set an “outperform” rating on the stock in a research note on Tuesday. UBS Group set a $115.00 target price on Alphabet in a research note on Thursday, January 12th. The Goldman Sachs Group set a $135.00 target price on Alphabet in a research note on Friday, November 18th. Finally, Piper Sandler dropped their target price on Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $140.40.

Insider Activity

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 value 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 approximately $2,243,449.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value 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 approximately $2,243,449.90. The sale 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 57,303 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $35.94, for a total value of $2,059,469.82. The disclosure for this sale can be found here. In the last quarter, insiders purchased 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $99.21 on Wednesday. The stock has a market cap of $1.28 trillion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The business has a 50-day simple moving average of $93.63 and a 200-day simple moving average of $102.00. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). The company had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. On average, equities analysts expect that Alphabet Inc. will post 4.68 EPS for the current 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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