Means Investment CO. Inc. Purchases 1,421 Shares of Alphabet Inc. (NASDAQ:GOOG)

Means Investment CO. Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,129 shares of the information services provider’s stock after buying an additional 1,421 shares during the period. Alphabet comprises approximately 2.2% of Means Investment CO. Inc.’s portfolio, making the stock its 10th biggest position. Means Investment CO. Inc.’s holdings in Alphabet were worth $19,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Abich Financial Wealth Management LLC grew its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at about $37,000. HWG Holdings LP purchased a new position in Alphabet in the second quarter valued at about $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the 2nd quarter worth about $44,000. Finally, Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $165.05 on Monday. The stock has a market capitalization of $2.04 trillion, a PE ratio of 25.31, a P/E/G ratio of 1.21 and a beta of 1.04. The stock has a 50-day simple moving average of $163.18 and a 200 day simple moving average of $169.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

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

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’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 completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents 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 this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOOG shares. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. UBS Group cut their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Pivotal Research assumed coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Company 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.