Beese Fulmer Investment Management Inc. Has $22.23 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Beese Fulmer Investment Management Inc. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,956 shares of the information services provider’s stock after selling 1,254 shares during the period. Alphabet makes up about 1.9% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 11th largest position. Beese Fulmer Investment Management Inc.’s holdings in Alphabet were worth $22,229,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOG. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the period. Swedbank AB acquired a new position in Alphabet in the 1st quarter valued at approximately $1,378,708,000. Capital International Investors lifted its position in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares in the last quarter. Finally, Vima LLC increased its position in shares of Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after purchasing an additional 2,000,000 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.0 %

Shares of GOOG opened at $164.53 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.21 and a beta of 1.04. The stock has a fifty day moving average price of $163.28 and a two-hundred day moving average price of $169.92. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. Analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. UBS Group decreased their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Scotiabank initiated coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.