Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Washburn Capital Management Inc.


Washburn Capital Management Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,820.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,500 shares of the information services provider’s stock after purchasing an additional 11,849 shares during the period. Alphabet comprises about 1.1% of Washburn Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. Washburn Capital Management Inc.’s holdings in Alphabet were worth $1,202,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Alphabet by 1,872.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock valued at $1,758,856,000 after purchasing an additional 17,365,189 shares during the period. Baillie Gifford & Co. raised its position in Alphabet by 1,879.5% during the third quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock worth $1,124,431,000 after acquiring an additional 11,103,769 shares during the period. Nordea Investment Management AB raised its position in Alphabet by 1,899.8% during the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock worth $654,531,000 after acquiring an additional 6,343,615 shares during the period. New York State Teachers Retirement System raised its position in Alphabet by 1,835.5% during the third quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock worth $619,633,000 after acquiring an additional 6,111,475 shares during the period. Finally, Truist Financial Corp raised its position in Alphabet by 1,861.3% during the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock worth $431,640,000 after acquiring an additional 4,260,344 shares during the period. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Cowen reduced their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Alphabet in a research report on Wednesday, October 26th. Societe Generale reduced their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 21st. Finally, Piper Sandler dropped their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $101.13, for a total value of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at $2,518,946.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the sale, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at $2,518,946.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 360 shares of the stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $98.48, for a total transaction of $35,452.80. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,112,824. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 1.9 %

Shares of GOOG opened at $101.21 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $152.10. The firm has a 50-day moving average price of $93.62 and a 200 day moving average price of $102.10. The firm has a market capitalization of $1.31 trillion, a P/E ratio of 20.10, a P/E/G ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. During the same period in the previous year, the company earned $1.40 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 4.68 EPS for the current year.

Alphabet Profile

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Alphabet Inc provides 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 offers 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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