Optimum Investment Advisors increased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 10.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,249 shares of the information services provider’s stock after purchasing an additional 320 shares during the period. Alphabet accounts for approximately 1.1% of Optimum Investment Advisors’ holdings, making the stock its 17th largest position. Optimum Investment Advisors’ holdings in Alphabet were worth $3,878,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of GOOG. Braun Bostich & Associates Inc. acquired a new stake in Alphabet during the first quarter worth approximately $107,000. JJJ Advisors Inc. acquired a new stake in Alphabet during the second quarter worth approximately $134,000. Blackhawk Capital Partners LLC. lifted its position in Alphabet by 148.6% during the second quarter. Blackhawk Capital Partners LLC. now owns 174 shares of the information services provider’s stock worth $194,000 after acquiring an additional 104 shares during the last quarter. North Point Portfolio Managers Corp OH acquired a new stake in Alphabet during the second quarter worth approximately $201,000. Finally, PDS Planning Inc acquired a new stake in Alphabet during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 33.96% of the company’s stock.
GOOG has been the subject of several research reports. Oppenheimer restated a “buy” rating on shares of Alphabet in a research report on Friday, August 17th. Macquarie reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, August 15th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, August 7th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Monday, August 6th. Finally, BidaskClub downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,301.81.
Shares of NASDAQ:GOOG opened at $1,088.30 on Friday. The company has a market capitalization of $755.88 billion, a P/E ratio of 24.44 and a beta of 1.16. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 1 year low of $980.64 and a 1 year high of $1,273.89.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.41 by $2.65. The business had revenue of $27.16 billion for the quarter. Alphabet had a net margin of 14.45% and a return on equity of 19.40%.
In related news, CEO Sundar Pichai sold 10,000 shares of Alphabet stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $1,038.35, for a total value of $10,383,500.00. Following the transaction, the chief executive officer now directly owns 519 shares of the company’s stock, valued at $538,903.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 80 shares of Alphabet stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $1,193.80, for a total transaction of $95,504.00. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at $463,194.40. The disclosure for this sale can be found here. Insiders sold 89,267 shares of company stock worth $99,725,538 over the last three months. 13.11% of the stock is currently owned by insiders.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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