Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Cardinal Capital Management

Cardinal Capital Management lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,040 shares of the information services provider’s stock after purchasing an additional 80 shares during the period. Cardinal Capital Management’s holdings in Alphabet were worth $2,515,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock valued at $35,993,340. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. UBS Group lowered their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $164.51 on Friday. The stock has a market cap of $2.03 trillion, a P/E ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a 50 day moving average of $163.18 and a two-hundred day moving average of $169.52. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

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.