SlateStone Wealth LLC increased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,030 shares of the information services provider’s stock after acquiring an additional 190 shares during the quarter. Alphabet comprises 1.2% of SlateStone Wealth LLC’s portfolio, making the stock its 20th biggest holding. SlateStone Wealth LLC’s holdings in Alphabet were worth $5,388,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Lighthouse Financial Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at $25,000. 1 North Wealth Services LLC acquired a new position in Alphabet in the 3rd quarter valued at $40,000. OLD Second National Bank of Aurora grew its holdings in Alphabet by 50.0% in the 4th quarter. OLD Second National Bank of Aurora now owns 30 shares of the information services provider’s stock valued at $40,000 after buying an additional 10 shares in the last quarter. Wealthcare Capital Management LLC grew its holdings in Alphabet by 300.0% in the 4th quarter. Wealthcare Capital Management LLC now owns 32 shares of the information services provider’s stock valued at $43,000 after buying an additional 24 shares in the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new position in Alphabet in the 4th quarter valued at $43,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:GOOG traded up $6.08 during trading on Friday, reaching $1,520.74. 1,197,360 shares of the company traded hands, compared to its average volume of 1,664,224. The company’s 50 day moving average is $1,431.92 and its two-hundred day moving average is $1,295.96. The firm has a market capitalization of $1,040.52 billion, a PE ratio of 30.92, a PEG ratio of 1.69 and a beta of 1.02. The company has a quick ratio of 3.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 52 week low of $1,025.00 and a 52 week high of $1,529.63.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, February 3rd. The information services provider reported $15.35 earnings per share for the quarter, beating analysts’ consensus estimates of $12.76 by $2.59. Alphabet had a return on equity of 18.66% and a net margin of 21.22%. The firm had revenue of $46.08 billion during the quarter, compared to the consensus estimate of $46.87 billion. During the same period in the prior year, the company posted $10.95 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc will post 54.5 EPS for the current year.
In related news, CAO Amie Thuener O’toole sold 55 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1,279.57, for a total transaction of $70,376.35. Following the completion of the sale, the chief accounting officer now directly owns 388 shares in the company, valued at approximately $496,473.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 31 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $1,300.50, for a total value of $40,315.50. Following the sale, the director now owns 1,773 shares of the company’s stock, valued at $2,305,786.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,013,643 shares of company stock valued at $389,654,791. 12.99% of the stock is owned by corporate insiders.
GOOG has been the topic of a number of research reports. Citigroup upped their price objective on Alphabet from $1,500.00 to $1,700.00 and gave the company a “positive” rating in a report on Friday, February 7th. Nomura upped their price objective on Alphabet from to in a report on Tuesday, February 4th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, February 4th. Piper Sandler upped their price objective on Alphabet from $1,500.00 to $1,600.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,591.10.
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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