Cedrus LLC Acquires 75 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cedrus LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,748 shares of the information services provider’s stock after acquiring an additional 75 shares during the quarter. Cedrus LLC’s holdings in Alphabet were worth $292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Radnor Capital Management LLC raised its position in Alphabet by 48.6% during the 1st quarter. Radnor Capital Management LLC now owns 12,600 shares of the information services provider’s stock worth $1,918,000 after purchasing an additional 4,120 shares during the last quarter. RDA Financial Network raised its position in shares of Alphabet by 35.9% during the first quarter. RDA Financial Network now owns 6,298 shares of the information services provider’s stock worth $959,000 after acquiring an additional 1,665 shares during the last quarter. Birch Capital Management LLC lifted its stake in shares of Alphabet by 0.9% in the first quarter. Birch Capital Management LLC now owns 30,519 shares of the information services provider’s stock worth $4,647,000 after acquiring an additional 258 shares during the period. Compton Wealth Advisory Group LLC boosted its holdings in Alphabet by 17.7% in the first quarter. Compton Wealth Advisory Group LLC now owns 8,920 shares of the information services provider’s stock valued at $1,358,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Benson Investment Management Company Inc. increased its position in Alphabet by 16.9% during the 1st quarter. Benson Investment Management Company Inc. now owns 59,455 shares of the information services provider’s stock valued at $9,053,000 after purchasing an additional 8,594 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Pivotal Research started coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. UBS Group lowered their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Finally, Oppenheimer cut their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $165.05 on Monday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $163.18 and a 200 day simple moving average of $169.77. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a market cap of $2.04 trillion, a P/E ratio of 25.31, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the company earned $1.44 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.