Rowland & Co. Investment Counsel ADV Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Rowland & Co. Investment Counsel ADV increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 87.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,839 shares of the information services provider’s stock after buying an additional 1,791 shares during the period. Alphabet accounts for approximately 2.5% of Rowland & Co. Investment Counsel ADV’s portfolio, making the stock its 12th largest holding. Rowland & Co. Investment Counsel ADV’s holdings in Alphabet were worth $11,108,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. Pacific Sun Financial Corp lifted its holdings in Alphabet by 5.1% during the 4th quarter. Pacific Sun Financial Corp now owns 166 shares of the information services provider’s stock worth $480,000 after buying an additional 8 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in Alphabet by 2.2% during the 4th quarter. Eagle Asset Management Inc. now owns 7,939 shares of the information services provider’s stock worth $23,182,000 after buying an additional 170 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Alphabet by 0.8% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 13,935 shares of the information services provider’s stock worth $37,141,000 after buying an additional 116 shares in the last quarter. SBB Research Group LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $2,850,000. Finally, Allegheny Financial Group LTD lifted its holdings in Alphabet by 287.6% during the 4th quarter. Allegheny Financial Group LTD now owns 721 shares of the information services provider’s stock worth $2,086,000 after buying an additional 535 shares in the last quarter. 31.20% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $3,450.00 to $3,200.00 in a report on Wednesday, April 27th. Wedbush restated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Monness Crespi & Hardt increased their target price on shares of Alphabet from $3,660.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday, February 2nd. Raymond James dropped their target price on shares of Alphabet from $3,630.00 to $3,180.00 in a research report on Wednesday, April 27th. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $3,350.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, February 2nd. One equities research analyst has rated the stock with a hold rating and thirty have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $3,308.77.

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the purchase, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 31 shares of the business’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the transaction, the director now directly owns 265 shares in the company, valued at $604,459.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 570,715 shares of company stock valued at $75,992,391. 12.99% of the stock is owned by insiders.

Shares of NASDAQ:GOOG traded down $1.73 during trading on Wednesday, reaching $2,116.79. The stock had a trading volume of 1,891,078 shares, compared to its average volume of 1,578,284. The business has a fifty day moving average price of $2,526.55 and a 200-day moving average price of $2,704.70. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.39 trillion, a P/E ratio of 19.10, a PEG ratio of 1.03 and a beta of 1.13. Alphabet Inc. has a fifty-two week low of $2,044.16 and a fifty-two week high of $3,042.00.

Shares of Alphabet are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the previous year, the company earned $26.29 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 112.62 EPS for the current year.

Alphabet Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also