Intech Investment Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,678.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,638,927 shares of the information services provider’s stock after buying an additional 1,546,794 shares during the period. Alphabet comprises 1.2% of Intech Investment Management LLC’s investment portfolio, making the stock its 8th biggest position. Intech Investment Management LLC’s holdings in Alphabet were worth $157,583,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Totem Point Management LLC increased its holdings in Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F increased its holdings in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in Alphabet in the first quarter valued at $2,564,000. Hall Capital Management Co. Inc. increased its stake in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. increased its stake in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Alphabet Stock Performance
NASDAQ:GOOG opened at $89.35 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The firm has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.23 and a beta of 1.08. The company’s 50-day moving average is $94.09 and its two-hundred day moving average is $99.03. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $144.16.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s 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 directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s 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 directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,583 shares of company stock worth $3,418,900. 12.99% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of analysts have recently commented on GOOG shares. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Cowen cut their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Finally, Societe Generale cut their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.13.
About Alphabet
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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