Addison Advisors LLC Has $431,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Addison Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,935.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,479 shares of the information services provider’s stock after acquiring an additional 4,259 shares during the quarter. Addison Advisors LLC’s holdings in Alphabet were worth $431,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Financial Advisors Network Inc. boosted its holdings in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. boosted its holdings in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the last quarter. McAdam LLC boosted its holdings in Alphabet by 2.8% during the second quarter. McAdam LLC now owns 294 shares of the information services provider’s stock worth $643,000 after purchasing an additional 8 shares during the last quarter. West Michigan Advisors LLC boosted its holdings in Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after purchasing an additional 9 shares during the last quarter. Finally, Somerville Kurt F boosted its holdings in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction on Monday, October 31st. The shares were 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 at this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction on 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. In the last quarter, insiders have purchased 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 firms have weighed in on GOOG. Societe Generale dropped their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. JPMorgan Chase & Co. set a $115.00 target price on shares of Alphabet in a research note on Wednesday, October 26th. Piper Sandler dropped their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Raymond James dropped their target price on shares of Alphabet from $120.00 to $116.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Sanford C. Bernstein set a $120.00 target price on shares of Alphabet in a research note on Thursday, January 12th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $140.40.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $99.21 on Wednesday. The company’s fifty day moving average price is $93.63 and its 200-day moving average price is $102.00. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.74 and a beta of 1.08. 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.

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

Alphabet 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.