Alphabet Inc. $GOOG Stock Position Raised by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 28.1% in the 2nd quarter, Holdings Channel reports. The fund owned 15,178 shares of the information services provider’s stock after buying an additional 3,325 shares during the period. John G Ullman & Associates Inc.’s holdings in Alphabet were worth $2,692,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. IFS Advisors LLC lifted its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $26,000. Finally, Fairman Group LLC lifted its position in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last 90 days. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on GOOG. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.26.

Alphabet Stock Performance

Shares of GOOG opened at $251.34 on Wednesday. The company’s fifty day moving average is $234.23 and its 200-day moving average is $194.41. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.88. The firm has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the business posted $1.89 EPS. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.