Southland Equity Partners LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Southland Equity Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.9% in the fourth quarter, Holdings Channel reports. The firm owned 11,309 shares of the information services provider’s stock after buying an additional 1,109 shares during the period. Southland Equity Partners LLC’s holdings in Alphabet were worth $2,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. M&G PLC purchased a new stake in Alphabet during the 3rd quarter valued at about $2,240,000. Coldstream Capital Management Inc. grew its stake in Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after acquiring an additional 14,738 shares in the last quarter. Metis Global Partners LLC grew its stake in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Stevens Capital Management LP grew its stake in Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after acquiring an additional 57,810 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after acquiring an additional 5,892 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $201.90 on Monday. The firm’s 50 day moving average price is $187.95 and its 200-day moving average price is $175.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84. The firm has a market cap of $2.47 trillion, a P/E ratio of 26.78, a P/E/G ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

About Alphabet

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.