Stonegate Investment Group LLC Purchases 18,726 Shares of Alphabet Inc. (NASDAQ:GOOG)

Stonegate Investment Group LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,883.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,720 shares of the information services provider’s stock after buying an additional 18,726 shares during the quarter. Stonegate Investment Group LLC’s holdings in Alphabet were worth $1,896,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GOOG. Ignite Planners LLC grew its position in shares of Alphabet by 4.7% during the 2nd quarter. Ignite Planners LLC now owns 134 shares of the information services provider’s stock valued at $320,000 after purchasing an additional 6 shares in the last quarter. Financial Advisors Network Inc. grew its position in shares of Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. grew its position in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. McAdam LLC grew its position in shares of Alphabet by 2.8% during the 2nd quarter. McAdam LLC now owns 294 shares of the information services provider’s stock valued at $643,000 after purchasing an additional 8 shares in the last quarter. Finally, West Michigan Advisors LLC grew its position in shares of Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the transaction, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the transaction, the chief accounting officer now owns 24,694 shares in the company, valued at $2,243,449.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $101.21 on Tuesday. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The company has a 50-day moving average price of $93.62 and a 200-day moving average price of $102.10. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $152.10.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOG. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research report on Monday, January 9th. UBS Group set a $115.00 price objective on shares of Alphabet in a report on Thursday, January 12th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a report on Thursday, January 12th. The Goldman Sachs Group set a $135.00 price objective on shares of Alphabet in a report on Friday, November 18th. Finally, Raymond James dropped their price objective on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently 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.