IPG Investment Advisors LLC Purchases 7,123 Shares of Alphabet Inc. (NASDAQ:GOOG)

IPG Investment Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 95.9% in the third quarter, Holdings Channel reports. The firm owned 14,551 shares of the information services provider’s stock after buying an additional 7,123 shares during the quarter. IPG Investment Advisors LLC’s holdings in Alphabet were worth $1,919,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Tolleson Wealth Management Inc. bought a new position in Alphabet during the second quarter worth about $411,000. Westshore Wealth LLC lifted its holdings 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 acquiring an additional 3,730 shares in the last quarter. Washington Trust Bank lifted its holdings 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 acquiring an additional 1,826 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. lifted its holdings 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 acquiring an additional 996 shares in the last quarter. Finally, Blue Barn Wealth LLC lifted its holdings in Alphabet by 2.0% during the second quarter. Blue Barn Wealth LLC now owns 6,148 shares of the information services provider’s stock worth $744,000 after acquiring an additional 121 shares in the last quarter. 27.13% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 0.4 %

Shares of NASDAQ:GOOG traded down $0.64 during midday trading on Monday, hitting $149.58. The stock had a trading volume of 9,195,041 shares, compared to its average volume of 21,285,785. Alphabet Inc. has a 12 month low of $88.86 and a 12 month high of $155.20. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $142.15 and its 200-day simple moving average is $136.93. The company has a market cap of $1.87 trillion, a P/E ratio of 25.90, a PEG ratio of 1.39 and a beta of 1.06.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) 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 business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter last year, the firm posted $1.05 EPS. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 6.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 420 shares of Alphabet stock in a transaction on Friday, December 1st. The stock was sold at an average price of $133.32, for a total transaction of $55,994.40. Following the completion of the sale, the chief accounting officer now owns 26,833 shares of the company’s stock, valued at $3,577,375.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $136.40, for a total value of $31,372.00. Following the completion of the transaction, the director now owns 14,515 shares of the company’s stock, valued at $1,979,846. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 420 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $133.32, for a total value of $55,994.40. Following the completion of the transaction, the chief accounting officer now directly owns 26,833 shares of the company’s stock, valued at approximately $3,577,375.56. The disclosure for this sale can be found here. Insiders sold 136,974 shares of company stock valued at $19,427,217 in the last quarter. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna raised their price target 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. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, October 25th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $146.33.

Check Out Our Latest Research Report on GOOG

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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