Alphabet Inc. (NASDAQ:GOOG) Stock Position Boosted by Coastal Investment Advisors Inc.


Coastal Investment Advisors Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,814.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,637 shares of the information services provider’s stock after buying an additional 74,530 shares during the quarter. Alphabet makes up about 2.0% of Coastal Investment Advisors Inc.’s holdings, making the stock its 5th largest position. Coastal Investment Advisors Inc.’s holdings in Alphabet were worth $7,561,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GOOG. OLD Second National Bank of Aurora boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares during the period. Carolina Wealth Advisors LLC boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. NewSquare Capital LLC boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares during the period. Schubert & Co boosted its stake in shares of Alphabet by 1,192.9% during the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after buying an additional 334 shares during the period. Finally, Corsicana & Co. boosted its stake in shares of Alphabet by 1,900.0% during the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOG. Oppenheimer decreased their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. UBS Group set a $115.00 price target on shares of Alphabet in a report on Thursday, January 12th. Sanford C. Bernstein set a $120.00 price target on shares of Alphabet in a report on Thursday, January 12th. Societe Generale cut their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Finally, Raymond James cut their price target on shares of Alphabet from $143.00 to $120.00 and set an “outperform” 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 company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $140.56.

Alphabet Trading Up 5.7 %

Shares of GOOG opened at $99.28 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The firm has a 50 day simple moving average of $93.52 and a 200-day simple moving average of $102.16. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $152.10. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

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

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the stock in a transaction on Monday, October 24th. The stock was purchased at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the sale, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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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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