Glynn Capital Management LLC Has $2.12 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Glynn Capital Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,900.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,040 shares of the information services provider’s stock after purchasing an additional 20,938 shares during the quarter. Glynn Capital Management LLC’s holdings in Alphabet were worth $2,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OLD Second National Bank of Aurora grew its position in Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. NewSquare Capital LLC grew its position in Alphabet by 1,900.0% in the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 304 shares during the last quarter. Schubert & Co grew its position in Alphabet by 1,192.9% in the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 334 shares during the last quarter. Finally, Corsicana & Co. grew its position in Alphabet by 1,900.0% in the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 380 shares during the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $101.21 on Tuesday. Alphabet Inc. has a one year low of $83.45 and a one year high of $152.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The business’s 50 day simple moving average is $93.62 and its 200 day simple moving average is $102.10. The stock has a market capitalization of $1.31 trillion, a PE ratio of 20.10, a PEG ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. During the same period last year, the firm posted $1.40 earnings per share. Alphabet’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the transaction, the chief accounting officer now directly owns 24,694 shares in the company, valued at $2,243,449.90. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Cowen decreased their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Cowen reduced their price target on Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price target on Alphabet in a report on Monday, January 9th. UBS Group set a $115.00 price target on Alphabet in a report on Thursday, January 12th. Finally, Societe Generale reduced their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $140.56.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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