Appleton Partners Inc. MA boosted its holdings in Alphabet Inc (NASDAQ:GOOG) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,392 shares of the information services provider’s stock after purchasing an additional 152 shares during the quarter. Alphabet accounts for about 1.2% of Appleton Partners Inc. MA’s portfolio, making the stock its 25th largest holding. Appleton Partners Inc. MA’s holdings in Alphabet were worth $10,864,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of GOOG. Virtus ETF Advisers LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $38,000. Campbell Wealth Management acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $41,000. Prestige Wealth Management Group LLC raised its position in shares of Alphabet by 1,700.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares in the last quarter. Islay Capital Management LLC raised its position in shares of Alphabet by 40.0% in the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock valued at $49,000 after buying an additional 10 shares in the last quarter. Finally, Cedar Mountain Advisors LLC raised its position in shares of Alphabet by 34.4% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock valued at $61,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 32.42% of the company’s stock.
A number of research firms recently issued reports on GOOG. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Monday, October 12th. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research report on Friday, July 31st. Finally, KeyCorp began coverage on shares of Alphabet in a research report on Monday, September 14th. They set an “overweight” rating for the company. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average price target of $1,703.33.
In related news, Director Ann Mather sold 22 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the transaction, the director now directly owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 60 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the transaction, the director now directly owns 517 shares in the company, valued at $795,295.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142 shares of company stock worth $213,357. Insiders own 12.99% of the company’s stock.
NASDAQ:GOOG opened at $1,573.01 on Friday. The firm’s fifty day moving average is $1,525.61 and its 200-day moving average is $1,436.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. Alphabet Inc has a 52 week low of $1,013.54 and a 52 week high of $1,733.18. The firm has a market cap of $1,069.90 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.16 and a beta of 1.10.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The company had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. As a group, sell-side analysts anticipate that Alphabet Inc will post 44.84 earnings per share for the current year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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