Clean Yield Group Purchases 4,943 Shares of Alphabet Inc. (NASDAQ:GOOG)

Clean Yield Group Purchases 4,943 Shares of Alphabet Inc. (NASDAQ:GOOG)

Updated: 5 days, 15 hours, 36 minutes, 55 seconds ago

Clean Yield Group lifted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,923.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,200 shares of the information services provider’s stock after acquiring an additional 4,943 shares during the quarter. Clean Yield Group’s holdings in Alphabet were worth $500,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Alphabet by 1,872.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after buying an additional 17,365,189 shares during the period. Baillie Gifford & Co. increased its stake in Alphabet by 1,879.5% in the 3rd quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock worth $1,124,431,000 after buying an additional 11,103,769 shares during the period. Nordea Investment Management AB increased its stake in Alphabet by 1,899.8% in the 3rd quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock worth $654,531,000 after buying an additional 6,343,615 shares during the period. New York State Teachers Retirement System increased its position in Alphabet by 1,835.5% during the 3rd quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock valued at $619,633,000 after purchasing an additional 6,111,475 shares during the period. Finally, Truist Financial Corp increased its position in Alphabet by 1,861.3% during the 3rd quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock valued at $431,640,000 after purchasing an additional 4,260,344 shares during the period. Institutional investors own 28.69% of the company’s stock.

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Insider Activity

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 360 shares of the business’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $98.48, for a total transaction of $35,452.80. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,112,824. The disclosure for this sale can be found here. In the last quarter, insiders have bought 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $99.21 on Wednesday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.74 and a beta of 1.08. The company has a fifty day simple moving average of $93.63 and a 200-day simple moving average of $102.00. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $69.09 billion for the quarter, compared to analysts’ expectations of $70.67 billion. During the same period in the previous year, the company earned $1.40 EPS. Alphabet’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. The Goldman Sachs Group set a $135.00 target price on shares of Alphabet in a research report on Friday, November 18th. Raymond James cut their target price on shares of Alphabet from $120.00 to $116.00 and set an “outperform” rating on the stock in a research report on Tuesday. Oppenheimer cut their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Cowen lowered their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, January 11th. Finally, Societe Generale lowered their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.40.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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