Train Babcock Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,573 shares of the company’s stock after buying an additional 11 shares during the period. Alphabet comprises 2.4% of Train Babcock Advisors LLC’s portfolio, making the stock its 9th largest position. Train Babcock Advisors LLC’s holdings in Alphabet were worth $5,887,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new stake in Alphabet during the third quarter worth about $1,944,000. DG Capital Management Inc. increased its stake in Alphabet by 13.9% in the third quarter. DG Capital Management Inc. now owns 3,488 shares of the company’s stock worth $2,711,000 after buying an additional 425 shares during the last quarter. Wallington Asset Management LLC bought a new stake in Alphabet during the third quarter worth about $5,598,000. Cornerstone Advisors Inc. increased its stake in Alphabet by 174.2% in the third quarter. Cornerstone Advisors Inc. now owns 1,371 shares of the company’s stock worth $1,066,000 after buying an additional 871 shares during the last quarter. Finally, Cambridge Advisors Inc. bought a new stake in Alphabet during the third quarter worth about $211,000. Institutional investors and hedge funds own 34.22% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.18% during mid-day trading on Wednesday, reaching $803.34. The company had a trading volume of 498,198 shares. The company has a market cap of $553.69 billion, a price-to-earnings ratio of 29.40 and a beta of 0.93. The firm’s 50-day moving average price is $779.29 and its 200 day moving average price is $765.14. Alphabet Inc. has a 52-week low of $663.06 and a 52-week high of $816.68.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.62 by $0.44. The business earned $22.45 billion during the quarter, compared to the consensus estimate of $13.17 billion. Alphabet had a return on equity of 15.08% and a net margin of 22.29%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $7.35 EPS. Equities analysts expect that Alphabet Inc. will post $34.47 EPS for the current year.
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A number of research analysts have weighed in on GOOG shares. reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, September 23rd. Moffett Nathanson reaffirmed a “buy” rating and set a $925.00 price target on shares of Alphabet in a research report on Friday, September 23rd. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, September 27th. Wedbush cut shares of Alphabet from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $700.00 to $800.00 in a research report on Tuesday, September 27th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $1,025.00 target price (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and forty-four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $941.91.
In other news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $801.27, for a total transaction of $3,205,080.00. Following the completion of the sale, the chief executive officer now directly owns 2,856 shares in the company, valued at approximately $2,288,427.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $800.00, for a total value of $160,000.00. Following the sale, the director now owns 104 shares of the company’s stock, valued at $83,200. The disclosure for this sale can be found here. 13.92% of the stock is owned by corporate insiders.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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