Canvas Wealth Advisors LLC Has $1.05 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Canvas Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,934.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,029 shares of the information services provider’s stock after buying an additional 10,487 shares during the period. Canvas Wealth Advisors LLC’s holdings in Alphabet were worth $1,046,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Curated Wealth Partners LLC lifted its position in shares of Alphabet by 1,916.3% in the 3rd quarter. Curated Wealth Partners LLC now owns 5,081 shares of the information services provider’s stock worth $489,000 after purchasing an additional 4,829 shares during the period. Optimum Investment Advisors lifted its position in shares of Alphabet by 1,931.0% in the 3rd quarter. Optimum Investment Advisors now owns 26,220 shares of the information services provider’s stock worth $2,521,000 after purchasing an additional 24,929 shares during the period. Bangor Savings Bank lifted its position in shares of Alphabet by 1,992.7% in the 3rd quarter. Bangor Savings Bank now owns 22,601 shares of the information services provider’s stock worth $2,173,000 after purchasing an additional 21,521 shares during the period. Mechanics Financial Corp lifted its position in shares of Alphabet by 1,888.8% in the 3rd quarter. Mechanics Financial Corp now owns 8,910 shares of the information services provider’s stock worth $857,000 after purchasing an additional 8,462 shares during the period. Finally, Aurora Investment Managers LLC. lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Aurora Investment Managers LLC. now owns 32,960 shares of the information services provider’s stock valued at $3,169,000 after acquiring an additional 31,312 shares during the period. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GOOG shares. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Monday, January 9th. Cowen cut their price objective on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Cowen cut their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Alphabet in a research report on Wednesday, October 26th. Finally, Credit Suisse Group set a $128.00 price objective on shares of Alphabet in a research report on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.40.

Insider Transactions at Alphabet

In other 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 277,493 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was bought at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the purchase, the insider now directly owns 870,895 shares in the company, valued at approximately $31,360,928.95. The transaction 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 firm’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 transaction of $4,149,665.52. The disclosure for this sale can be found here. In the last quarter, insiders purchased 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 company insiders.

Alphabet Trading Down 2.0 %

NASDAQ:GOOG opened at $99.21 on Wednesday. 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 firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $152.10. The firm has a 50-day moving average price of $93.63 and a two-hundred day moving average price of $102.00.

Alphabet (NASDAQ:GOOGGet Rating) last posted 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). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. During the same quarter last year, the business posted $1.40 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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