Inverness Counsel LLC NY Purchases 294 Shares of Alphabet Inc (NASDAQ:GOOG)

Inverness Counsel LLC NY lifted its position in Alphabet Inc (NASDAQ:GOOG) by 3.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,929 shares of the information services provider’s stock after acquiring an additional 294 shares during the period. Inverness Counsel LLC NY’s holdings in Alphabet were worth $13,275,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its stake in shares of Alphabet by 6.1% in the 4th quarter. Jacobi Capital Management LLC now owns 1,692 shares of the information services provider’s stock valued at $2,262,000 after purchasing an additional 98 shares during the period. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Alphabet by 24.1% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 670 shares of the information services provider’s stock valued at $817,000 after purchasing an additional 130 shares during the period. Sanders Capital LLC grew its holdings in shares of Alphabet by 10.5% in the fourth quarter. Sanders Capital LLC now owns 1,384,395 shares of the information services provider’s stock valued at $2,039,993,000 after purchasing an additional 131,482 shares during the period. CNB Bank grew its holdings in shares of Alphabet by 9.8% in the third quarter. CNB Bank now owns 1,136 shares of the information services provider’s stock valued at $1,385,000 after purchasing an additional 101 shares during the period. Finally, NewSquare Capital LLC grew its holdings in shares of Alphabet by 113.6% in the fourth quarter. NewSquare Capital LLC now owns 47 shares of the information services provider’s stock valued at $63,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 33.80% of the company’s stock.

A number of research analysts have commented on GOOG shares. Stifel Nicolaus raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Guggenheim upped their target price on shares of Alphabet from $1,425.00 to $1,525.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Pivotal Research upped their target price on shares of Alphabet from $1,650.00 to $1,700.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. KeyCorp increased their price target on shares of Alphabet from $1,546.00 to $1,769.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Piper Sandler increased their price target on shares of Alphabet from $1,500.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,591.10.

In related news, major shareholder Capitalg Lp sold 242,124 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $63.65, for a total transaction of $15,411,192.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David C. Drummond sold 56,860 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $1,289.62, for a total transaction of $73,327,793.20. Following the sale, the senior vice president now owns 45,806 shares in the company, valued at $59,072,333.72. The disclosure for this sale can be found here. Insiders have sold 3,900,843 shares of company stock worth $316,798,003 over the last 90 days. Insiders own 12.99% of the company’s stock.

Shares of GOOG stock traded up $10.20 during trading hours on Tuesday, reaching $1,518.88. 193,295 shares of the stock were exchanged, compared to its average volume of 1,741,971. The business’s fifty day moving average is $1,422.04 and its two-hundred day moving average is $1,290.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 3.35. Alphabet Inc has a 12-month low of $1,025.00 and a 12-month high of $1,509.50. The firm has a market capitalization of $1,020.20 billion, a P/E ratio of 30.88, a P/E/G ratio of 1.66 and a beta of 1.02.

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, topping the Zacks’ consensus estimate of $12.76 by $2.59. Alphabet had a net margin of 21.22% and a return on equity of 18.66%. The firm had revenue of $46.08 billion for the quarter, compared to analyst estimates of $46.87 billion. During the same period in the prior year, the firm earned $10.95 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc will post 54.5 earnings per share for the current fiscal year.

Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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