Griffin Asset Management Inc. Has $6.14 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Griffin Asset Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 9.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,198 shares of the information services provider’s stock after buying an additional 192 shares during the period. Griffin Asset Management Inc.’s holdings in Alphabet were worth $6,140,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Hoese & Co LLP increased its position in Alphabet by 400.0% during the 4th quarter. Hoese & Co LLP now owns 10 shares of the information services provider’s stock worth $29,000 after buying an additional 8 shares during the period. Maryland Capital Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at about $29,000. Rather & Kittrell Inc. bought a new position in Alphabet during the fourth quarter worth about $34,000. Paragon Capital Management Ltd acquired a new stake in Alphabet in the 4th quarter worth about $35,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $37,000. 31.20% of the stock is currently owned by hedge funds and other institutional investors.

In other Alphabet news, SVP Prabhakar Raghavan sold 1,276 shares of Alphabet stock in a transaction on Monday, April 4th. The shares were sold at an average price of $2,816.49, for a total value of $3,593,841.24. Following the completion of the sale, the senior vice president now directly owns 14,034 shares of the company’s stock, valued at $39,526,620.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $2,800.20, for a total transaction of $117,608.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 551,675 shares of company stock worth $25,567,428. 12.99% of the stock is owned by corporate insiders.

Shares of NASDAQ GOOG opened at $2,253.69 on Friday. The company’s 50 day moving average price is $2,302.17 and its 200-day moving average price is $2,600.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. Alphabet Inc. has a 52-week low of $2,044.16 and a 52-week high of $3,042.00. The company has a market capitalization of $1.48 trillion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 1.13.

Shares of Alphabet are scheduled to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be issued to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The firm had revenue of $56.02 billion for the quarter, compared to the consensus estimate of $56.17 billion. During the same period last year, the company posted $26.29 EPS. Analysts forecast that Alphabet Inc. will post 110.83 earnings per share for the current year.

Several equities research analysts recently issued reports on GOOG shares. Wedbush reiterated an “outperform” rating on shares of Alphabet in a research note on Wednesday, April 20th. Oppenheimer reiterated an “outperform” rating and set a $3,290.00 target price on shares of Alphabet in a research report on Thursday, April 28th. Canaccord Genuity Group decreased their price target on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft dropped their price target on Alphabet from $3,150.00 to $2,900.00 in a research note on Wednesday, April 27th. Finally, Tigress Financial increased their price objective on shares of Alphabet from $3,540.00 to $3,670.00 in a research note on Friday, March 18th. Twenty-nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $3,315.38.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, 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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