Beese Fulmer Investment Management Inc. Has $22.23 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Beese Fulmer Investment Management Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 132,956 shares of the information services provider’s stock after selling 1,254 shares during the period. Alphabet comprises 1.9% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 11th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Alphabet were worth $22,229,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors boosted its stake in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors grew its stake in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after purchasing an additional 979,083 shares in the last quarter. Capital Research Global Investors grew its stake in Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $164.53 on Friday. The business’s 50 day moving average is $163.28 and its 200-day moving average is $169.92. The firm has a market cap of $2.03 trillion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 over the last three months. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Oppenheimer decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Profile

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.