McGlone Suttner Wealth Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,862 shares of the information services provider’s stock after buying an additional 831 shares during the quarter. Alphabet accounts for about 0.6% of McGlone Suttner Wealth Management Inc.’s investment portfolio, making the stock its 21st largest position. McGlone Suttner Wealth Management Inc.’s holdings in Alphabet were worth $3,571,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. LMR Partners LLP bought a new stake in Alphabet during the 3rd quarter worth approximately $32,000. Denver PWM LLC raised its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. Quarry LP bought a new stake in Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America bought a new stake in Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC raised its stake in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Loop Capital lifted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Truist Financial lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.82.
Alphabet Stock Up 0.1 %
Shares of GOOGL opened at $195.41 on Thursday. The firm has a market capitalization of $2.39 trillion, a P/E ratio of 25.92, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $202.29. 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 has a fifty day moving average price of $187.14 and a 200-day moving average price of $173.69.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock worth $22,470,464 over the last three months. 11.55% of the stock is owned by corporate insiders.
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.
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