Portland Global Advisors LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Portland Global Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,900.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,040 shares of the information services provider’s stock after buying an additional 4,788 shares during the period. Portland Global Advisors LLC’s holdings in Alphabet were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Spreng Capital Management Inc. grew its stake in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares during the last quarter. Ignite Planners LLC grew its position in shares of Alphabet by 1.4% during the second quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock worth $834,000 after acquiring an additional 5 shares during the last quarter. Kaizen Financial Strategies increased its holdings in shares of Alphabet by 0.7% in the 2nd quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock valued at $1,654,000 after acquiring an additional 5 shares during the period. West Family Investments Inc. raised its position in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the last quarter. Finally, Maple Capital Management Inc. boosted its stake in Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Trading Down 2.1 %

Shares of Alphabet stock opened at $97.70 on Wednesday. The firm has a market cap of $1.26 trillion, a PE ratio of 19.40, a P/E/G ratio of 1.72 and a beta of 1.09. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The business’s fifty day moving average is $93.10 and its two-hundred day moving average is $101.38.

Alphabet (NASDAQ:GOOGLGet 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 analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. During the same period in the previous year, the business posted $1.40 earnings per share. Analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder 2017 Gp L.L.C. Gv sold 57,303 shares of Alphabet stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $35.94, for a total value of $2,059,469.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last three months, 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. Corporate insiders own 11.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GOOGL. Rosenblatt Securities dropped their price objective on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Susquehanna Bancshares reduced their price objective on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Cowen dropped their target price on Alphabet to $135.00 in a report on Thursday, October 27th. Tigress Financial decreased their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Finally, Citigroup lowered their price objective on shares of Alphabet from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

About Alphabet

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Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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