Sterling Investment Management LLC Has $4.32 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Sterling Investment Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 63.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,864 shares of the information services provider’s stock after purchasing an additional 10,059 shares during the period. Alphabet makes up 3.3% of Sterling Investment Management LLC’s investment portfolio, making the stock its 6th largest holding. Sterling Investment Management LLC’s holdings in Alphabet were worth $4,324,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Colonial River Wealth Management LLC lifted its stake in Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares in the last quarter. Oak Ridge Investments LLC raised its stake in shares of Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after buying an additional 8,201 shares during the period. Rosenberg Matthew Hamilton raised its stake in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares during the period. Alliance Wealth Management Group raised its position in shares of Alphabet by 93.6% in the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after purchasing an additional 1,890 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in shares of Alphabet by 4.6% during the third quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock worth $439,405,000 after acquiring an additional 115,716 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.5 %

GOOG opened at $165.80 on Tuesday. Alphabet Inc. has a 12 month low of $121.46 and a 12 month 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. The business’s 50-day moving average price is $163.21 and its 200-day moving average price is $169.86. The company has a market cap of $2.05 trillion, a P/E ratio of 25.43, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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 return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOG. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. UBS Group cut their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Oppenheimer decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Finally, Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Four investment 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 in the last three months. 12.99% of the stock is owned by insiders.

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.