Palladium Partners LLC Increases Stake in Alphabet Inc (NASDAQ:GOOG)
Palladium Partners LLC increased its stake in Alphabet Inc (NASDAQ:GOOG) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,487 shares of the information services provider’s stock after purchasing an additional 63 shares during the period. Palladium Partners LLC’s holdings in Alphabet were worth $3,325,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in GOOG. Wechter Feldman Wealth Management Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $211,000. Steel Peak Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $1,953,000. Lighthouse Financial Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $25,000. Community Financial Services Group LLC raised its stake in Alphabet by 3.1% in the 4th quarter. Community Financial Services Group LLC now owns 2,875 shares of the information services provider’s stock worth $3,844,000 after acquiring an additional 87 shares during the last quarter. Finally, ICW Investment Advisors LLC purchased a new position in Alphabet in the 4th quarter worth $366,000. Institutional investors own 33.80% of the company’s stock.
In other Alphabet news, CAO Amie Thuener O’toole sold 55 shares of Alphabet stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $1,279.57, for a total value of $70,376.35. Following the completion of the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at $496,473.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Capitalg Lp sold 2,085,172 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $52.59, for a total transaction of $109,659,195.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,013,643 shares of company stock worth $389,654,791. Insiders own 12.99% of the company’s stock.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, February 3rd. The information services provider reported $15.35 earnings per share for the quarter, beating the consensus estimate of $12.76 by $2.59. Alphabet had a return on equity of 18.66% and a net margin of 21.22%. The company had revenue of $46.08 billion during the quarter, compared to analysts’ expectations of $46.87 billion. During the same period last year, the business earned $10.95 earnings per share. Alphabet’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc will post 54.5 earnings per share for the current year.
A number of analysts have commented on the company. Stifel Nicolaus raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Piper Jaffray Companies initiated coverage on Alphabet in a report on Tuesday, December 3rd. They issued an “overweight” rating and a $1,500.00 price objective on the stock. DZ Bank restated a “buy” rating on shares of Alphabet in a research note on Tuesday, February 4th. UBS Group restated a “buy” rating on shares of Alphabet in a research note on Tuesday, February 4th. Finally, Guggenheim lifted their target price on Alphabet from $1,425.00 to $1,525.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $1,591.10.
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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