Valley National Advisers Inc. Has $505,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Valley National Advisers Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 155.4% during the third quarter, HoldingsChannel reports. The firm owned 189 shares of the information services provider’s stock after buying an additional 115 shares during the quarter. Valley National Advisers Inc.’s holdings in Alphabet were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Clarus Group Inc. boosted its stake in shares of Alphabet by 0.9% in the 2nd quarter. Clarus Group Inc. now owns 451 shares of the information services provider’s stock valued at $1,169,000 after purchasing an additional 4 shares in the last quarter. Rinet Co LLC boosted its stake in shares of Alphabet by 0.6% in the 2nd quarter. Rinet Co LLC now owns 657 shares of the information services provider’s stock valued at $1,647,000 after purchasing an additional 4 shares in the last quarter. MACRO Consulting Group boosted its stake in shares of Alphabet by 1.9% in the 2nd quarter. MACRO Consulting Group now owns 211 shares of the information services provider’s stock valued at $533,000 after purchasing an additional 4 shares in the last quarter. Hemington Wealth Management boosted its stake in shares of Alphabet by 1.5% in the 3rd quarter. Hemington Wealth Management now owns 278 shares of the information services provider’s stock valued at $741,000 after purchasing an additional 4 shares in the last quarter. Finally, 360 Financial Inc. boosted its stake in shares of Alphabet by 2.8% in the 3rd quarter. 360 Financial Inc. now owns 145 shares of the information services provider’s stock valued at $386,000 after purchasing an additional 4 shares in the last quarter. Institutional investors own 30.66% of the company’s stock.

In other Alphabet news, major shareholder Capitalg 2014 Lp sold 44,100 shares of the company’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $39.14, for a total transaction of $1,726,074.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sergey Brin sold 5,489 shares of the company’s stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $2,755.92, for a total value of $15,127,244.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,473 shares of company stock worth $436,640,791. Insiders own 12.99% of the company’s stock.

Shares of NASDAQ:GOOG traded up $21.75 during midday trading on Friday, reaching $2,804.37. The company had a trading volume of 21,271 shares, compared to its average volume of 1,123,908. The company’s 50 day moving average price is $2,908.10 and its 200 day moving average price is $2,816.68. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.86 trillion, a P/E ratio of 26.49, a P/E/G ratio of 0.97 and a beta of 1.06. Alphabet Inc. has a 52-week low of $1,721.55 and a 52-week high of $3,037.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $23.13 by $4.86. The company had revenue of $65.12 billion for the quarter, compared to the consensus estimate of $63.35 billion. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The firm’s quarterly revenue was up 41.0% on a year-over-year basis. During the same period in the previous year, the firm earned $16.40 EPS. Research analysts forecast that Alphabet Inc. will post 108.29 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, January 3rd. Royal Bank of Canada assumed coverage on shares of Alphabet in a research report on Friday, October 1st. They set an “outperform” rating and a $3,400.00 target price on the stock. UBS Group assumed coverage on shares of Alphabet in a research report on Friday, December 3rd. They set a “buy” rating and a $3,925.00 target price on the stock. Cowen lifted their target price on shares of Alphabet from $3,360.00 to $3,500.00 in a research report on Thursday. Finally, Oppenheimer lifted their target price on shares of Alphabet from $3,000.00 to $3,500.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Three equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $3,210.45.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

See Also: Preferred Stock

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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