Sigma Planning Corp Has $17.41 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Feb 27th, 2023

Sigma Planning Corp lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,012.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,032 shares of the information services provider’s stock after buying an additional 172,463 shares during the period. Alphabet comprises about 0.7% of Sigma Planning Corp’s investment portfolio, making the stock its 21st largest holding. Sigma Planning Corp’s holdings in Alphabet were worth $17,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GOOG. Polen Capital Management LLC boosted its position in shares of Alphabet by 1,896.1% during the third quarter. Polen Capital Management LLC now owns 28,471,359 shares of the information services provider’s stock worth $2,737,521,000 after buying an additional 27,045,038 shares during the period. Jennison Associates LLC raised its holdings in Alphabet by 1,736.4% during the third quarter. Jennison Associates LLC now owns 23,253,198 shares of the information services provider’s stock worth $2,235,795,000 after acquiring an additional 21,986,989 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Alphabet by 1,872.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after acquiring an additional 17,365,189 shares in the last quarter. TD Asset Management Inc. raised its holdings in Alphabet by 1,863.4% during the third quarter. TD Asset Management Inc. now owns 16,524,239 shares of the information services provider’s stock worth $1,620,863,000 after acquiring an additional 15,682,616 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Alphabet by 1,966.8% during the third quarter. Dimensional Fund Advisors LP now owns 14,818,151 shares of the information services provider’s stock worth $1,424,954,000 after acquiring an additional 14,101,177 shares in the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. The Goldman Sachs Group set a $128.00 target price on Alphabet in a report on Friday, February 3rd. Cowen dropped their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Societe Generale dropped their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Raymond James upped their price objective on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Finally, UBS Group set a $120.00 price objective on Alphabet in a research note on Monday, February 6th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $137.13.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was 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 $2,518,946.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. The disclosure for this sale can be found here. Insiders have sold 36,583 shares of company stock valued at $3,418,900 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 1.9 %

Shares of NASDAQ:GOOG opened at $89.35 on Monday. The company has a market capitalization of $1.14 trillion, a P/E ratio of 19.63, a P/E/G ratio of 1.23 and a beta of 1.08. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $144.16. 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 business’s 50 day simple moving average is $94.09 and its 200 day simple moving average is $99.03.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.53 EPS. On average, research analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

About Alphabet

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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