Balasa Dinverno & Foltz LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Balasa Dinverno & Foltz LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,949.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,703 shares of the information services provider’s stock after purchasing an additional 26,351 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in Alphabet were worth $2,664,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GOOG. Totem Point Management LLC grew its position in Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares in the last quarter. Somerville Kurt F grew its position in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in Alphabet in the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. grew its position in Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. grew its position in Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $92.80 on Monday. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Alphabet Inc. has a 52 week low of $83.45 and a 52 week 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 firm has a 50 day moving average of $93.23 and a 200 day moving average of $102.78.

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

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the transaction, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 280 shares of Alphabet stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the transaction, the chief accounting officer now directly owns 24,694 shares in the company, valued at $2,243,449.90. The disclosure for this sale can be found here. Over the last 90 days, 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 currently owned by insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research report on Wednesday, October 26th. Piper Sandler decreased their price objective on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 26th. Societe Generale decreased their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Oppenheimer decreased 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. Finally, UBS Group set a $115.00 price objective on shares of Alphabet in a research note on Thursday. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $141.88.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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