Wallington Asset Management LLC Acquires 4,312 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wallington Asset Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,004 shares of the information services provider’s stock after acquiring an additional 4,312 shares during the quarter. Alphabet makes up approximately 1.9% of Wallington Asset Management LLC’s holdings, making the stock its 20th largest position. Wallington Asset Management LLC’s holdings in Alphabet were worth $13,877,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Twelve Points Wealth Management LLC raised its holdings in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after buying an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its position in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV grew its position in Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after buying an additional 57 shares during the period. Advisors Management Group Inc. ADV grew its position in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after buying an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC grew its position in shares of Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $164.53 on Friday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a 50 day moving average price of $163.28 and a 200 day moving average price of $169.92. 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 company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during 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%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Pivotal Research initiated coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Company 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.