Bowen Hanes & Co. Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,895.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 476,589 shares of the information services provider’s stock after buying an additional 452,709 shares during the period. Alphabet makes up 1.8% of Bowen Hanes & Co. Inc.’s holdings, making the stock its 24th largest position. Bowen Hanes & Co. Inc.’s holdings in Alphabet were worth $45,824,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. OLD Second National Bank of Aurora raised its stake in shares of 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 buying an additional 247 shares in the last quarter. Westchester Capital Management Inc. raised its stake in shares of 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 buying an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC raised its stake in shares of 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 buying an additional 285 shares in the last quarter. Saban Cheryl raised its stake in shares of 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 buying an additional 190 shares in the last quarter. Finally, NewSquare Capital LLC raised its stake in shares of 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 buying an additional 304 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.
Alphabet Stock Performance
GOOG opened at $90.10 on Tuesday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The company has a market cap of $1.15 trillion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.23 and a beta of 1.08. The stock has a 50-day moving average of $94.11 and a 200-day moving average of $98.82.
Analyst Ratings Changes
GOOG has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $125.00 target price on Alphabet in a research report on Friday, February 3rd. Raymond James boosted their target price on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Oppenheimer boosted their target price on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Royal Bank of Canada set a $130.00 target price on Alphabet in a research report on Friday, February 3rd. Finally, Societe Generale dropped their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $137.13.
Insider Buying and Selling
In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director Ann Mather sold 340 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,583 shares of company stock valued at $3,418,900. Insiders own 12.99% of the company’s stock.
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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