Addenda Capital Inc. Buys 204 Shares of Alphabet Inc (NASDAQ:GOOG)

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Addenda Capital Inc. lifted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,967 shares of the information services provider’s stock after purchasing an additional 204 shares during the period. Addenda Capital Inc.’s holdings in Alphabet were worth $11,708,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in GOOG. Engrave Wealth Partners LLC grew its holdings in Alphabet by 15.9% in the 2nd quarter. Engrave Wealth Partners LLC now owns 51 shares of the information services provider’s stock valued at $72,000 after buying an additional 7 shares in the last quarter. Charles Schwab Trust Co grew its stake in Alphabet by 2.2% during the second quarter. Charles Schwab Trust Co now owns 325 shares of the information services provider’s stock worth $459,000 after purchasing an additional 7 shares during the period. Capital Planning Advisors LLC grew its stake in Alphabet by 1.0% during the second quarter. Capital Planning Advisors LLC now owns 740 shares of the information services provider’s stock worth $1,046,000 after purchasing an additional 7 shares during the period. Capital Financial Planning LLC grew its stake in Alphabet by 2.6% during the second quarter. Capital Financial Planning LLC now owns 278 shares of the information services provider’s stock worth $393,000 after purchasing an additional 7 shares during the period. Finally, Wealth Advisors of Iowa LLC grew its stake in Alphabet by 2.2% during the second quarter. Wealth Advisors of Iowa LLC now owns 328 shares of the information services provider’s stock worth $464,000 after purchasing an additional 7 shares during the period. Institutional investors own 32.42% of the company’s stock.

A number of equities research analysts have commented on GOOG shares. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. KeyCorp started coverage on Alphabet in a research note on Monday, September 14th. They issued an “overweight” rating for the company. Raymond James raised their price objective on Alphabet from $1,425.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Pivotal Research raised their price objective on Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $1,505.00 to $1,700.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $1,703.33.

Shares of Alphabet stock opened at $1,573.01 on Friday. The business’s fifty day simple moving average is $1,525.61 and its 200 day simple moving average is $1,436.75. The firm has a market capitalization of $1,069.90 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,733.18. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Analysts predict that Alphabet Inc will post 44.84 EPS for the current fiscal year.

In other Alphabet news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total value of $92,297.40. Following the sale, the director now directly owns 517 shares in the company, valued at $795,295.93. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 22 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total value of $32,653.94. Following the completion of the sale, the director now owns 1,134 shares in the company, valued at $1,683,162.18. The disclosure for this sale can be found here. Insiders have sold 142 shares of company stock worth $213,357 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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