Penn Davis Mcfarland Inc. Acquires 490,691 Shares of Alphabet Inc. (NASDAQ:GOOG)

Penn Davis Mcfarland Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,910.9% during the third quarter, HoldingsChannel reports. The firm owned 516,370 shares of the information services provider’s stock after acquiring an additional 490,691 shares during the quarter. Alphabet accounts for 10.0% of Penn Davis Mcfarland Inc.’s holdings, making the stock its largest position. Penn Davis Mcfarland Inc.’s holdings in Alphabet were worth $49,649,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOG. Totem Point Management LLC lifted its stake in shares of Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after acquiring an additional 571 shares during the last quarter. Somerville Kurt F lifted its stake in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the last quarter. BCK Partners Inc. bought a new position in shares of Alphabet in the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. lifted its stake in shares of Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after acquiring an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. raised its position in Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $88.16 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The stock has a 50-day moving average of $92.98 and a 200-day moving average of $103.53. The company has a market cap of $1.14 trillion, a PE ratio of 17.51, a P/E/G ratio of 1.54 and a beta of 1.08. Alphabet Inc. has a one year low of $83.45 and a one year high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. Alphabet’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. On average, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Cowen lowered their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Societe Generale lowered their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft lowered their target price on Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 21st. Jefferies Financial Group set a $125.00 target price on Alphabet in a research report on Wednesday, October 26th. Finally, Credit Suisse Group set a $128.00 target price on Alphabet in a research report on Wednesday, October 26th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $144.43.

About Alphabet

(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.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.