Chesapeake Wealth Management Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Chesapeake Wealth Management boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,740.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,300 shares of the information services provider’s stock after acquiring an additional 2,175 shares during the period. Chesapeake Wealth Management’s holdings in Alphabet were worth $221,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Curated Wealth Partners LLC grew its stake in shares of Alphabet by 1,916.3% in the 3rd quarter. Curated Wealth Partners LLC now owns 5,081 shares of the information services provider’s stock worth $489,000 after buying an additional 4,829 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of Alphabet by 1,931.0% in the 3rd quarter. Optimum Investment Advisors now owns 26,220 shares of the information services provider’s stock worth $2,521,000 after buying an additional 24,929 shares in the last quarter. Bangor Savings Bank grew its stake in shares of Alphabet by 1,992.7% in the 3rd quarter. Bangor Savings Bank now owns 22,601 shares of the information services provider’s stock worth $2,173,000 after buying an additional 21,521 shares in the last quarter. Aurora Investment Managers LLC. grew its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Aurora Investment Managers LLC. now owns 32,960 shares of the information services provider’s stock worth $3,169,000 after buying an additional 31,312 shares in the last quarter. Finally, Affiance Financial LLC grew its stake in shares of Alphabet by 1,804.4% in the 3rd quarter. Affiance Financial LLC now owns 18,720 shares of the information services provider’s stock worth $1,800,000 after buying an additional 17,737 shares in the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.9 %

NASDAQ GOOG opened at $101.21 on Tuesday. 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 $1.31 trillion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The company’s 50-day simple moving average is $93.62 and its two-hundred day simple moving average is $102.10. Alphabet Inc. has a one year low of $83.45 and a one year high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last posted its earnings results 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 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 company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. Equities analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $101.13, for a total value of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 360 shares of Alphabet stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $98.48, for a total transaction of $35,452.80. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,112,824. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GOOG. Oppenheimer dropped 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. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a research note on Monday, January 9th. Credit Suisse Group set a $128.00 price objective on shares of Alphabet in a research note on Wednesday, October 26th. Piper Sandler lowered their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Finally, Raymond James lowered their target price 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. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price 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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