Verity Asset Management Inc. Acquires 312 Shares of Alphabet Inc. $GOOG

Verity Asset Management Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,556 shares of the information services provider’s stock after acquiring an additional 312 shares during the quarter. Verity Asset Management Inc.’s holdings in Alphabet were worth $454,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GOOG. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley boosted its holdings in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Fairman Group LLC boosted its holdings in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the 1st quarter worth $32,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a report on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. TD Cowen lifted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 190,896 shares of company stock valued at $45,092,175. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.1%

Shares of GOOG stock opened at $278.06 on Wednesday. The company has a 50 day moving average of $247.49 and a 200-day moving average of $203.10. 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 Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The firm has a market cap of $3.36 trillion, a P/E ratio of 27.42, a PEG ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 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.