Ferguson Wellman Capital Management Inc. Boosts Stake in Alphabet Inc (NASDAQ:GOOG)
Ferguson Wellman Capital Management Inc. raised its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,778 shares of the information services provider’s stock after buying an additional 161 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Alphabet were worth $5,552,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Alphabet during the third quarter valued at $2,759,000. Osher Van de Voorde Investment Management boosted its stake in shares of Alphabet by 1.5% during the 3rd quarter. Osher Van de Voorde Investment Management now owns 9,179 shares of the information services provider’s stock worth $13,453,000 after purchasing an additional 132 shares during the last quarter. Jackson Wealth Management LLC grew its holdings in shares of Alphabet by 29.2% during the third quarter. Jackson Wealth Management LLC now owns 796 shares of the information services provider’s stock worth $1,170,000 after buying an additional 180 shares in the last quarter. James Hambro & Partners raised its position in shares of Alphabet by 3.6% in the third quarter. James Hambro & Partners now owns 34,739 shares of the information services provider’s stock valued at $51,025,000 after buying an additional 1,211 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC lifted its stake in shares of Alphabet by 7.8% during the third quarter. Global Strategic Investment Solutions LLC now owns 371 shares of the information services provider’s stock valued at $546,000 after buying an additional 27 shares during the period. 32.42% of the stock is owned by institutional investors.
GOOG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Alphabet from $1,975.00 to $2,020.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $1,505.00 to $1,700.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. BidaskClub downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. Pivotal Research lifted their price target on shares of Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a report on Monday, October 12th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,703.33.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. As a group, research analysts anticipate that Alphabet Inc will post 44.84 earnings per share for the current year.
In related news, Director Ann Mather sold 22 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total value of $32,653.94. Following the completion of the transaction, the director now directly owns 1,134 shares of the company’s stock, valued at approximately $1,683,162.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $1,473.43, for a total value of $88,405.80. Following the completion of the sale, the director now owns 548 shares in the company, valued at $807,439.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142 shares of company stock worth $213,357. 12.99% of the stock is currently owned by insiders.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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