BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,594.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 559,069 shares of the information services provider’s stock after buying an additional 526,075 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Alphabet were worth $53,754,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in GOOG. OLD Second National Bank of Aurora lifted its holdings in Alphabet by 1,900.0% during 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. lifted its holdings in Alphabet by 1,900.0% during 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 lifted its holdings in Alphabet by 1,900.0% during 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 increased 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 acquiring an additional 190 shares during the last quarter. Finally, NewSquare Capital LLC increased 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 acquiring an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total value of $86,466.15. Following the completion of the transaction, the chief accounting officer now owns 24,908 shares in the company, valued at approximately $2,518,946.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s 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 completion of 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 filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The disclosure for this sale can be found here. Insiders sold a total of 36,583 shares of company stock worth $3,418,900 in the last quarter. 12.99% of the stock is owned by company insiders.
Alphabet Trading Down 1.9 %
Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 EPS. On average, analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on GOOG shares. Jefferies Financial Group set a $125.00 target price on Alphabet in a research note on Friday, February 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Oppenheimer upped their target price on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Bank of America upped their target price on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Finally, Societe Generale decreased their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $137.13.
Alphabet 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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