Monument Capital Management Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

by · The Markets Daily

Monument Capital Management raised its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,346 shares of the information services provider’s stock after purchasing an additional 99 shares during the quarter. Monument Capital Management’s holdings in Alphabet were worth $441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Financial Advisors Network Inc. increased its stake in Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. increased its stake in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. West Michigan Advisors LLC increased its stake in Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares in the last quarter. Somerville Kurt F increased its stake in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC increased its stake in Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $143.80 on Thursday. Alphabet Inc. has a 52-week low of $88.86 and a 52-week high of $144.52. The stock’s fifty day simple moving average is $136.97 and its 200-day simple moving average is $132.89. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The business had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Equities research analysts expect that Alphabet Inc. will post 5.83 EPS for the current year.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 250 shares of Alphabet stock in a transaction on Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the transaction, the director now owns 14,226 shares in the company, valued at $1,769,145.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frances Arnold sold 250 shares of Alphabet stock in a transaction on Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the transaction, the director now owns 14,226 shares in the company, valued at $1,769,145.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the transaction, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,219 shares of company stock worth $22,785,375. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GOOG shares. Raymond James began coverage on Alphabet in a research note on Wednesday, December 20th. They issued an “outperform” rating and a $150.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average target price of $131.93.

View Our Latest Stock Analysis on GOOG

About Alphabet

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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