Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Verde Capital Management

Verde Capital Management raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,715 shares of the information services provider’s stock after acquiring an additional 1,024 shares during the quarter. Alphabet comprises approximately 0.8% of Verde Capital Management’s investment portfolio, making the stock its 22nd largest holding. Verde Capital Management’s holdings in Alphabet were worth $2,795,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Colonial River Wealth Management LLC grew its stake in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares in the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after buying an additional 8,201 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares in the last quarter. Alliance Wealth Management Group raised its holdings in Alphabet by 93.6% in the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after acquiring an additional 1,890 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Alphabet by 4.6% in the third quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after acquiring an additional 115,716 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,426 shares of company stock worth $35,993,340. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. UBS Group dropped their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer decreased their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Price Performance

Shares of 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 stock has a market cap of $2.04 trillion, a P/E ratio of 25.31, a P/E/G ratio of 1.21 and a beta of 1.04. The stock has a 50 day moving average of $163.18 and a two-hundred day moving average of $169.77. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. On average, research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current 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.