Silicon Valley Capital Partners grew its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3,930.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,826 shares of the information services provider’s stock after buying an additional 24,210 shares during the period. Alphabet accounts for about 0.5% of Silicon Valley Capital Partners’ portfolio, making the stock its 17th largest position. Silicon Valley Capital Partners’ holdings in Alphabet were worth $2,387,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. OLD Second National Bank of Aurora boosted its stake in Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. Westchester Capital Management Inc. boosted its stake in Alphabet by 1,900.0% in the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC boosted its stake in Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Saban Cheryl boosted its stake in Alphabet by 1,900.0% in the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares in the last quarter. Finally, NewSquare Capital LLC boosted its stake in Alphabet by 1,900.0% in the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after purchasing an additional 304 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the sale, 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 filing with the SEC, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the sale, 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 filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders have sold a total of 36,583 shares of company stock valued at $3,418,900 in the last 90 days. 12.99% of the stock is owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 EPS. As a group, research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Piper Sandler reduced their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Cowen reduced their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. UBS Group set a $120.00 price target on shares of Alphabet in a research report on Monday, February 6th. Finally, Royal Bank of Canada set a $130.00 price target on shares of Alphabet in a research report on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $137.13.
Alphabet Company Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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