Gibraltar Capital Management Inc. boosted its position in Alphabet Inc (NASDAQ:GOOG) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,951 shares of the information services provider’s stock after acquiring an additional 189 shares during the period. Alphabet accounts for 3.2% of Gibraltar Capital Management Inc.’s holdings, making the stock its 10th largest holding. Gibraltar Capital Management Inc.’s holdings in Alphabet were worth $5,283,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in GOOG. Orrstown Financial Services Inc. bought a new stake in shares of Alphabet during the 3rd quarter valued at about $26,000. 1 North Wealth Services LLC purchased a new position in shares of Alphabet during the third quarter valued at about $40,000. OLD Second National Bank of Aurora raised its stake in Alphabet by 50.0% in the fourth quarter. OLD Second National Bank of Aurora now owns 30 shares of the information services provider’s stock worth $40,000 after buying an additional 10 shares in the last quarter. Vista Private Wealth Partners. LLC bought a new position in Alphabet in the third quarter worth about $46,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Alphabet in the fourth quarter worth about $47,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.
In related news, CAO Amie Thuener O’toole sold 54 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $1,276.45, for a total transaction of $68,928.30. Following the sale, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $495,262.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Drummond sold 28,430 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $1,266.89, for a total value of $36,017,682.70. Following the completion of the transaction, the senior vice president now directly owns 45,806 shares of the company’s stock, valued at approximately $58,031,163.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,674,700 shares of company stock valued at $336,637,779. 12.99% of the stock is owned by company insiders.
Several analysts have weighed in on the company. Oppenheimer lifted their price objective on Alphabet from $1,370.00 to $1,530.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein assumed coverage on Alphabet in a research note on Thursday, January 9th. They issued an “outperform” rating for the company. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research report on Monday, November 4th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, ValuEngine cut Alphabet from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,499.88.
Shares of Alphabet stock opened at $1,484.40 on Wednesday. Alphabet Inc has a 1 year low of $1,025.00 and a 1 year high of $1,491.85. The firm’s 50-day moving average is $1,376.95 and its 200 day moving average is $1,259.39. The stock has a market cap of $1,021.00 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing analysts’ consensus estimates of $12.57 by ($2.45). The firm had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.17 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $13.06 earnings per share. On average, equities analysts expect that Alphabet Inc will post 49.03 EPS for the current fiscal year.
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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