Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Nexus Investment Management ULC

by · The Markets Daily

Nexus Investment Management ULC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,543 shares of the information services provider’s stock after purchasing an additional 1,880 shares during the period. Alphabet accounts for 3.5% of Nexus Investment Management ULC’s portfolio, making the stock its 11th biggest position. Nexus Investment Management ULC’s holdings in Alphabet were worth $35,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Park Avenue Securities LLC grew its position in Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC grew its position in Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after buying an additional 107 shares in the last quarter. Oak Ridge Investments LLC grew its position in Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after buying an additional 8,201 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after buying an additional 498 shares in the last quarter. Finally, Alliance Wealth Management Group grew its position in Alphabet by 93.6% in the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after buying an additional 1,890 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOG opened at $166.90 on Wednesday. The firm has a fifty day moving average of $163.05 and a two-hundred day moving average of $169.57. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

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

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. UBS Group cut their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Pivotal Research assumed coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer cut their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

View Our Latest Stock Report on GOOG

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 197,926 shares of company stock valued at $32,251,590. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

See Also

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