Sigma Planning Corp boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,177 shares of the information services provider’s stock after purchasing an additional 110 shares during the quarter. Sigma Planning Corp’s holdings in Alphabet were worth $12,573,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in GOOG. LSV Asset Management boosted its position in Alphabet by 16.0% during the third quarter. LSV Asset Management now owns 2,610 shares of the information services provider’s stock worth $3,835,000 after purchasing an additional 360 shares during the period. Sequoia Financial Advisors LLC boosted its position in Alphabet by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $6,500,000 after purchasing an additional 153 shares during the period. Spectrum Wealth Advisory Group LLC bought a new stake in Alphabet during the third quarter worth approximately $352,000. MAI Capital Management boosted its position in Alphabet by 0.9% during the third quarter. MAI Capital Management now owns 39,506 shares of the information services provider’s stock worth $58,059,000 after purchasing an additional 351 shares during the period. Finally, Baskin Financial Services Inc. boosted its position in Alphabet by 2.9% during the third quarter. Baskin Financial Services Inc. now owns 22,626 shares of the information services provider’s stock worth $33,251,000 after purchasing an additional 636 shares during the period. 31.94% of the stock is owned by hedge funds and other institutional investors.
In other Alphabet news, Director Ann Mather sold 52 shares of the firm’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $1,757.54, for a total transaction of $91,392.08. Following the transaction, the director now owns 1,117 shares in the company, valued at $1,963,172.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 70 shares of the firm’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $2,085.54, for a total value of $145,987.80. Following the transaction, the director now owns 41 shares in the company, valued at approximately $85,507.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,999 shares of company stock worth $5,434,607. Company insiders own 12.99% of the company’s stock.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.91 by $6.39. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The business had revenue of $56.90 billion for the quarter, compared to analysts’ expectations of $52.86 billion. During the same quarter last year, the business earned $15.35 earnings per share. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. Sell-side analysts expect that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on GOOG shares. Mizuho increased their price objective on Alphabet from $2,100.00 to $2,350.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Jefferies Financial Group increased their price objective on Alphabet from $2,150.00 to $2,400.00 in a research report on Wednesday, February 3rd. Cowen upped their target price on Alphabet from $2,200.00 to $2,400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. Robert W. Baird upped their target price on Alphabet from $1,675.00 to $1,725.00 in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $2,390.00 target price (up from $2,050.00) on shares of Alphabet in a research note on Wednesday, February 3rd. Two research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $2,184.71.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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