Sonora Investment Management Group LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sonora Investment Management Group LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 210,210 shares of the information services provider’s stock after buying an additional 1,852 shares during the period. Alphabet comprises 3.1% of Sonora Investment Management Group LLC’s holdings, making the stock its 3rd largest position. Sonora Investment Management Group LLC’s holdings in Alphabet were worth $40,032,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. M&G PLC bought a new stake in Alphabet during the 3rd quarter worth approximately $2,240,000. Coldstream Capital Management Inc. boosted its position in shares of Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC grew its holdings in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after buying an additional 4,292 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in Alphabet in the 4th quarter valued at $927,000. Finally, Stevens Capital Management LP lifted its stake in Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after acquiring an additional 57,810 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,529 shares of company stock valued at $22,453,483 over the last three months. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOG. Scotiabank raised their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

Shares of GOOG stock opened at $202.64 on Tuesday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08. The stock has a market capitalization of $2.48 trillion, a P/E ratio of 26.88, a PEG ratio of 1.32 and a beta of 1.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $190.48 and its 200 day moving average is $175.55.

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.