Ballast Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,995.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,640 shares of the information services provider’s stock after buying an additional 9,180 shares during the period. Ballast Advisors LLC’s holdings in Alphabet were worth $927,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. OLD Second National Bank of Aurora grew 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. boosted its stake in shares of 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 during the period. Carolina Wealth Advisors LLC boosted its stake in shares of 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 during the period. Saban Cheryl boosted its stake in shares of Alphabet by 1,900.0% during 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 during the period. Finally, NewSquare Capital LLC boosted its stake in shares of Alphabet by 1,900.0% during 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 during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Cowen dropped their price target 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. JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a research note on Thursday, February 9th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Finally, Piper Sandler decreased their price objective on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.13.
Alphabet Stock Up 0.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data 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 firm 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%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the sale, the chief accounting officer now owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the sale, the chief accounting officer now owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the business’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 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. In the last quarter, insiders have sold 36,745 shares of company stock valued at $3,424,078. 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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