Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Madison Wealth Management

Madison Wealth Management decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,909 shares of the information services provider’s stock after selling 853 shares during the quarter. Alphabet accounts for approximately 4.0% of Madison Wealth Management’s holdings, making the stock its 4th biggest position. Madison Wealth Management’s holdings in Alphabet were worth $18,843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Totem Point Management LLC lifted its position in shares of Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares during the last quarter. Somerville Kurt F lifted its position in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the last quarter. BCK Partners Inc. acquired a new stake in shares of Alphabet in the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. lifted its position in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. lifted its position in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Alphabet Trading Up 0.6 %

GOOG stock opened at $143.54 on Friday. Alphabet Inc. has a 1-year low of $88.86 and a 1-year high of $155.20. The firm has a market cap of $1.80 trillion, a P/E ratio of 24.75, a P/E/G ratio of 1.33 and a beta of 1.06. The business’s 50 day moving average is $141.06 and its 200-day moving average is $135.91. The company has a current ratio of 2.10, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 6.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday. Oppenheimer reissued an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, October 25th. Finally, Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $135.77.

View Our Latest Analysis on GOOG

Insider Activity

In other news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the transaction, the director now directly owns 104,364 shares of the company’s stock, valued at approximately $13,681,076.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the transaction, the director now owns 104,364 shares of the company’s stock, valued at approximately $13,681,076.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the transaction, the director now directly owns 7,184 shares in the company, valued at approximately $954,897.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,674 shares of company stock worth $25,994,026. Company insiders own 12.99% of the company’s stock.

Alphabet Profile

(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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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