Alphabet Inc. (NASDAQ:GOOG) Holdings Raised by Conning Inc.

Conning Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,815.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,012 shares of the information services provider’s stock after buying an additional 40,571 shares during the quarter. Conning Inc.’s holdings in Alphabet were worth $4,039,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Financial Advisors Network Inc. lifted its holdings in shares of Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the period. Turim 21 Investimentos Ltda. lifted its holdings in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the period. McAdam LLC lifted its holdings in shares of Alphabet by 2.8% during the 2nd quarter. McAdam LLC now owns 294 shares of the information services provider’s stock worth $643,000 after acquiring an additional 8 shares during the period. West Michigan Advisors LLC lifted its holdings in shares of Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares during the period. Finally, Somerville Kurt F lifted its holdings in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the period. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOOG shares. Societe Generale reduced their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Credit Suisse Group set a $128.00 price objective on shares of Alphabet in a report on Wednesday, October 26th. Cowen cut their price target on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. UBS Group set a $115.00 price target on shares of Alphabet in a report on Thursday, January 12th. Finally, Raymond James cut their price target on shares of Alphabet from $120.00 to $116.00 and set an “outperform” rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.40.

Alphabet Stock Down 2.0 %

Shares of NASDAQ:GOOG opened at $99.21 on Wednesday. Alphabet Inc. has a one year low of $83.45 and a one year high of $152.10. The company has a 50 day moving average of $93.63 and a 200-day moving average of $102.00. 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 has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOG – Get Rating) last issued 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 return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $77,676.75. Following the transaction, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. In the last quarter, insiders acquired 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. 12.99% of the stock is owned by corporate insiders.

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.