Granite Group Advisors LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Granite Group Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 6.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,773 shares of the information services provider’s stock after purchasing an additional 103 shares during the period. Granite Group Advisors LLC’s holdings in Alphabet were worth $338,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Weiss Asset Management LP purchased a new position in shares of Alphabet during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Iron Horse Wealth Management LLC increased its position in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after buying an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new position in shares of Alphabet in the fourth quarter worth about $76,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,887 shares of company stock worth $22,470,464 over the last three months. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Oppenheimer increased their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Read Our Latest Stock Analysis on GOOG

Alphabet Stock Up 0.1 %

Shares of NASDAQ GOOG opened at $197.18 on Thursday. The stock has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $188.64 and its 200-day moving average price is $175.20.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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