Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Conning Inc.

Conning Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,815.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,012 shares of the information services provider’s stock after purchasing an additional 40,571 shares during the quarter. Conning Inc.’s holdings in Alphabet were worth $4,039,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GOOG. OLD Second National Bank of Aurora raised its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC raised its stake in Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the period. NewSquare Capital LLC raised its stake in Alphabet by 1,900.0% during the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after acquiring an additional 304 shares during the period. Schubert & Co raised its stake in Alphabet by 1,192.9% during the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after acquiring an additional 334 shares during the period. Finally, Corsicana & Co. raised its stake in Alphabet by 1,900.0% during the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after acquiring an additional 380 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Alphabet Trading Down 2.0 %

Shares of NASDAQ:GOOG opened at $99.21 on Wednesday. The stock 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 1-year low of $83.45 and a 1-year high of $152.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a 50 day moving average price of $93.63 and a 200 day moving average price of $102.00.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOG shares. JPMorgan Chase & Co. set a $115.00 price objective on shares of Alphabet in a research note on Wednesday, October 26th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a research note on Thursday, January 12th. UBS Group set a $115.00 target price on shares of Alphabet in a research report on Thursday, January 12th. The Goldman Sachs Group set a $135.00 target price on shares of Alphabet in a research report on Friday, November 18th. Finally, Oppenheimer decreased their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have issued 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 $140.40.

Insider Buying and Selling

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. 12.99% of the stock is currently owned by insiders.

About Alphabet

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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.