Douglas Lane & Associates LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,660 shares of the information services provider’s stock after selling 1,195 shares during the period. Alphabet comprises about 1.7% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 14th biggest holding. Douglas Lane & Associates LLC’s holdings in Alphabet were worth $102,765,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of GOOG. Raymond James Trust N.A. increased its holdings in shares of Alphabet by 0.6% during the fourth quarter. Raymond James Trust N.A. now owns 16,031 shares of the information services provider’s stock valued at $28,084,000 after purchasing an additional 100 shares during the period. Chemung Canal Trust Co. increased its position in shares of Alphabet by 7.7% in the fourth quarter. Chemung Canal Trust Co. now owns 4,206 shares of the information services provider’s stock worth $7,369,000 after acquiring an additional 299 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Alphabet by 15.2% during the fourth quarter. IFM Investors Pty Ltd now owns 29,184 shares of the information services provider’s stock valued at $51,127,000 after acquiring an additional 3,851 shares during the period. Contravisory Investment Management Inc. lifted its position in shares of Alphabet by 1.0% in the 4th quarter. Contravisory Investment Management Inc. now owns 3,794 shares of the information services provider’s stock valued at $6,647,000 after acquiring an additional 36 shares in the last quarter. Finally, Norway Savings Bank boosted its stake in Alphabet by 12.3% in the 4th quarter. Norway Savings Bank now owns 73 shares of the information services provider’s stock worth $128,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds own 29.94% of the company’s stock.
A number of analysts have recently issued reports on the company. Barclays increased their target price on Alphabet from $1,800.00 to $1,900.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 30th. Canaccord Genuity upped their price target on shares of Alphabet from $1,800.00 to $1,900.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Credit Suisse Group reiterated an “outperform” rating and set a $1,950.00 price target (up from $1,850.00) on shares of Alphabet in a report on Friday, October 30th. Finally, Cleveland Research upgraded shares of Alphabet to a “buy” rating in a report on Friday, October 23rd. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,843.00.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, November 3rd. The information services provider reported $16.40 EPS for the quarter, topping the consensus estimate of $11.35 by $5.05. The company had revenue of $46.17 billion during the quarter, compared to analysts’ expectations of $42.84 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. Alphabet’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.12 EPS. On average, equities analysts predict that Alphabet Inc. will post 51.54 earnings per share for the current fiscal year.
In other Alphabet news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $1,628.16, for a total value of $32,563.20. Following the sale, the director now directly owns 1,139 shares of the company’s stock, valued at approximately $1,854,474.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 30 shares of the business’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $1,764.42, for a total transaction of $52,932.60. Following the completion of the sale, the chief accounting officer now owns 846 shares of the company’s stock, valued at $1,492,699.32. The disclosure for this sale can be found here. Insiders sold 1,564 shares of company stock worth $2,756,038 over the last 90 days. Company insiders own 12.99% of the company’s stock.
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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