Grimes & Company Inc. Buys 66,839 Shares of Alphabet Inc. (NASDAQ:GOOG)

Grimes & Company Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,902.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 70,353 shares of the information services provider’s stock after acquiring an additional 66,839 shares during the quarter. Grimes & Company Inc.’s holdings in Alphabet were worth $6,764,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Advance Capital Management Inc. lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Advance Capital Management Inc. now owns 3,920 shares of the information services provider’s stock worth $377,000 after buying an additional 3,724 shares during the last quarter. First Bank & Trust lifted its position in shares of Alphabet by 2,055.3% during the 3rd quarter. First Bank & Trust now owns 25,152 shares of the information services provider’s stock worth $2,419,000 after buying an additional 23,985 shares during the last quarter. Palisades Hudson Asset Management L.P. lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Palisades Hudson Asset Management L.P. now owns 7,100 shares of the information services provider’s stock worth $683,000 after buying an additional 6,745 shares during the last quarter. Northeast Investment Management lifted its position in shares of Alphabet by 1,892.5% during the 3rd quarter. Northeast Investment Management now owns 136,045 shares of the information services provider’s stock worth $13,081,000 after buying an additional 129,217 shares during the last quarter. Finally, Alta Advisers Ltd bought a new stake in shares of Alphabet during the 3rd quarter worth $1,365,000. 28.69% of the stock is currently owned by institutional investors.

Alphabet Stock Up 5.7 %

Shares of Alphabet stock opened at $99.28 on Monday. Alphabet Inc. has a one year low of $83.45 and a one year high of $152.10. 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’s 50-day moving average is $93.52 and its 200 day moving average is $102.16. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last announced its 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 business had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter in the previous year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, Director Ann Mather sold 280 shares of the stock in a transaction that occurred 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 transaction, the director now owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred 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 completion of 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 90 days, insiders have acquired 661,702 shares of company stock worth $23,399,217 and have sold 190,744 shares worth $8,564,640. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOG shares. Cowen dropped their price objective on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. UBS Group set a $115.00 target price on Alphabet in a report on Thursday, January 12th. The Goldman Sachs Group set a $135.00 target price on Alphabet in a report on Friday, November 18th. Sanford C. Bernstein set a $120.00 target price on Alphabet in a report on Thursday, January 12th. Finally, Credit Suisse Group set a $128.00 target price on Alphabet in a 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.56.

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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