Spirit of America Management Corp NY Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

Spirit of America Management Corp NY raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,550 shares of the information services provider’s stock after acquiring an additional 300 shares during the period. Spirit of America Management Corp NY’s holdings in Alphabet were worth $426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter worth approximately $40,000. Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP raised its position in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. UBS Group dropped their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Pivotal Research assumed coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Trading Up 1.5 %

NASDAQ:GOOG opened at $166.99 on Friday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average price of $163.31 and a two-hundred day moving average price of $169.88. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results 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. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.