Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA grew its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,682.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,496 shares of the information services provider’s stock after acquiring an additional 2,356 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet were worth $240,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. Cowen dropped their price target on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, October 21st. Oppenheimer reduced their price objective on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. The Goldman Sachs Group set a $135.00 price objective on shares of Alphabet in a research note on Friday, November 18th. Finally, Cowen reduced their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.88.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of Alphabet stock in a transaction dated Monday, October 24th. The stock was bought at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the transaction, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of Alphabet stock in a transaction that occurred on Monday, October 24th. The stock was purchased at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares in the company, valued at $195,878,216. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 280 shares of the firm’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 1.0 %

Shares of GOOG stock opened at $92.80 on Monday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $152.10. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $93.23 and its two-hundred day moving average is $102.78. The company has a market cap of $1.20 trillion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter last year, the business earned $1.40 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 4.68 EPS for the current year.

About Alphabet

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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.