Alphabet Inc (NASDAQ:GOOG) Shares Purchased by Naples Global Advisors LLC
Naples Global Advisors LLC grew its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,034 shares of the information services provider’s stock after buying an additional 52 shares during the quarter. Naples Global Advisors LLC’s holdings in Alphabet were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC bought a new stake in shares of Alphabet during the 2nd quarter worth about $38,000. Campbell Wealth Management bought a new stake in shares of Alphabet during the 2nd quarter worth $41,000. Islay Capital Management LLC boosted its holdings in shares of Alphabet by 40.0% during the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock worth $49,000 after buying an additional 10 shares during the period. Cedar Mountain Advisors LLC boosted its holdings in shares of Alphabet by 34.4% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock worth $61,000 after buying an additional 11 shares during the period. Finally, Provident Wealth Management LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $68,000. Institutional investors own 32.42% of the company’s stock.
In related news, Director Ann Mather sold 22 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total value of $32,653.94. Following the completion of the transaction, the director now directly owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the completion of the transaction, the director now directly owns 517 shares of the company’s stock, valued at $795,295.93. The disclosure for this sale can be found here. Insiders sold 142 shares of company stock worth $213,357 over the last quarter. 12.99% of the stock is owned by corporate insiders.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. On average, equities analysts anticipate that Alphabet Inc will post 44.93 EPS for the current fiscal year.
GOOG has been the subject of several research analyst reports. KeyCorp initiated coverage on shares of Alphabet in a research note on Monday, September 14th. They set an “overweight” rating for the company. Oppenheimer upped their target price on shares of Alphabet from $1,445.00 to $1,685.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Credit Suisse Group reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, October 20th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Finally, Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,714.70.
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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