Hanson & Doremus Investment Management raised its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 27.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,374 shares of the information services provider’s stock after buying an additional 7,957 shares during the quarter. Alphabet accounts for about 0.7% of Hanson & Doremus Investment Management’s portfolio, making the stock its 24th largest position. Hanson & Doremus Investment Management’s holdings in Alphabet were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in GOOG. Walled Lake Planning & Wealth Management LLC increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock worth $3,281,000 after acquiring an additional 32,414 shares in the last quarter. Grand Jean Capital Management Inc. increased its holdings in shares of Alphabet by 1,926.2% in the third quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock worth $13,186,000 after acquiring an additional 130,367 shares in the last quarter. Connecticut Wealth Management LLC increased its holdings in shares of Alphabet by 1,415.4% in the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock worth $803,000 after acquiring an additional 7,799 shares in the last quarter. Matthew Goff Investment Advisor LLC increased its holdings in shares of Alphabet by 4.2% in the fourth quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock worth $655,000 after acquiring an additional 300 shares in the last quarter. Finally, Clarity Financial LLC increased its holdings in shares of Alphabet by 2,118.6% in the third quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock worth $5,935,000 after acquiring an additional 58,940 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.
Alphabet Stock Down 0.2 %
Shares of NASDAQ:GOOG opened at $106.06 on Friday. The company has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.44 and a beta of 1.09. 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 moving average is $97.08 and its 200-day moving average is $96.59. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $144.16.
Analysts Set New Price Targets
A number of research analysts recently issued reports on GOOG shares. Raymond James increased their price objective on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Societe Generale decreased their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Royal Bank of Canada set a $130.00 price objective on Alphabet in a report on Friday, February 3rd. Bank of America increased their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Finally, Jefferies Financial Group set a $125.00 price target on Alphabet in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.11.
Insider Activity at Alphabet
In related news, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $33,911.20. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The disclosure for this sale can be found here. Insiders sold 74,245 shares of company stock valued at $7,174,078 in the last three months. Corporate insiders own 12.99% of the company’s stock.
Alphabet Company 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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