Beach Investment Counsel Inc. PA Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Beach Investment Counsel Inc. PA boosted its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,907.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,745 shares of the information services provider’s stock after acquiring an additional 27,313 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Alphabet were worth $2,764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OLD Second National Bank of Aurora increased its stake in Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 247 shares during the period. Carolina Wealth Advisors LLC increased its stake in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the period. NewSquare Capital LLC increased its stake in Alphabet by 1,900.0% in the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 304 shares during the period. Schubert & Co increased its stake in Alphabet by 1,192.9% in the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 334 shares during the period. Finally, Corsicana & Co. increased its stake in Alphabet by 1,900.0% in the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 380 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was purchased at an average price 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 approximately $195,878,216. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was purchased at an average price 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 approximately $195,878,216. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 182,312 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were bought at an average cost of $34.60 per share, with a total value of $6,307,995.20. Following the transaction, the insider now directly owns 1,294,527 shares of the company’s stock, valued at approximately $44,790,634.20. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 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 company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Cowen dropped their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research note on Monday, January 9th. Sanford C. Bernstein set a $120.00 price target on shares of Alphabet in a research note on Thursday, January 12th. Finally, Raymond James dropped their price target on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $141.88.

Alphabet Stock Performance

Shares of GOOG opened at $91.78 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.63 and a beta of 1.08. The company’s 50 day simple moving average is $93.38 and its 200 day simple moving average is $102.47. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10.

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

Alphabet 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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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