Abacus Planning Group Inc. Acquires 120 Shares of Alphabet Inc. (NASDAQ:GOOG)

Abacus Planning Group Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.4% during the 4th quarter, HoldingsChannel reports. The firm owned 27,094 shares of the information services provider’s stock after buying an additional 120 shares during the period. Alphabet accounts for approximately 0.8% of Abacus Planning Group Inc.’s portfolio, making the stock its 19th largest position. Abacus Planning Group Inc.’s holdings in Alphabet were worth $3,818,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Tolleson Wealth Management Inc. purchased a new position in Alphabet during the second quarter worth $411,000. Westshore Wealth LLC boosted its stake in Alphabet by 31.2% during the second quarter. Westshore Wealth LLC now owns 15,700 shares of the information services provider’s stock worth $1,887,000 after buying an additional 3,730 shares during the period. Washington Trust Bank boosted its stake in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after buying an additional 1,826 shares during the period. Woodley Farra Manion Portfolio Management Inc. boosted its stake in Alphabet by 20.0% during the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,986 shares of the information services provider’s stock worth $724,000 after buying an additional 996 shares during the period. Finally, CNB Bank boosted its stake in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GOOG. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $146.33.

Read Our Latest Analysis on GOOG

Alphabet Stock Up 0.2 %

Shares of GOOG opened at $152.26 on Friday. The firm has a market capitalization of $1.89 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 12-month low of $100.29 and a 12-month high of $155.20. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $144.98 and a 200-day moving average price of $139.58.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,088 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the transaction, the senior vice president now directly owns 52,440 shares in the company, valued at $7,294,404. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 263,312 shares of company stock valued at $37,268,315 over the last three months. 12.99% of the stock is owned by company insiders.

About Alphabet

(Free Report)

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, 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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