Alphabet Inc. (NASDAQ:GOOG) is Red Cedar Capital LLC’s 10th Largest Position

Red Cedar Capital LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,907.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,093 shares of the information services provider’s stock after buying an additional 44,747 shares during the quarter. Alphabet comprises 3.1% of Red Cedar Capital LLC’s portfolio, making the stock its 10th biggest holding. Red Cedar Capital LLC’s holdings in Alphabet were worth $4,528,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOG. Curated Wealth Partners LLC grew its position in shares of Alphabet by 1,916.3% in the third quarter. Curated Wealth Partners LLC now owns 5,081 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 4,829 shares during the last quarter. Optimum Investment Advisors lifted its stake in Alphabet by 1,931.0% during the third quarter. Optimum Investment Advisors now owns 26,220 shares of the information services provider’s stock worth $2,521,000 after purchasing an additional 24,929 shares during the period. Bangor Savings Bank raised its stake in shares of Alphabet by 1,992.7% in the third quarter. Bangor Savings Bank now owns 22,601 shares of the information services provider’s stock valued at $2,173,000 after acquiring an additional 21,521 shares during the last quarter. Aurora Investment Managers LLC. increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Aurora Investment Managers LLC. now owns 32,960 shares of the information services provider’s stock valued at $3,169,000 after purchasing an additional 31,312 shares in the last quarter. Finally, MAI Capital Management increased its holdings in shares of Alphabet by 7.3% in the second quarter. MAI Capital Management now owns 38,604 shares of the information services provider’s stock valued at $84,443,000 after purchasing an additional 2,612 shares in the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares in the company, valued at approximately $1,156,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the stock in a transaction on Monday, October 24th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 280 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 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 Up 1.0 %

GOOG opened at $92.80 on Monday. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 18.43, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $152.10. The company’s 50-day moving average is $93.23 and its 200 day moving average is $102.78.

Alphabet (NASDAQ:GOOGGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). The business had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. Alphabet’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS. Research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. Raymond James decreased their price target on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research report on Monday, January 9th. Societe Generale dropped their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Oppenheimer dropped their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, JPMorgan Chase & Co. set a $115.00 target price on shares of Alphabet in a report on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.88.

Alphabet Company Profile

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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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