Patriot Investment Management Group Inc. Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

Patriot Investment Management Group Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,060 shares of the information services provider’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Weiss Asset Management LP purchased a new stake in Alphabet during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the 3rd quarter worth about $33,000. HWG Holdings LP purchased a new stake in Alphabet during the 2nd quarter worth about $40,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC increased its holdings in Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Alphabet Stock Up 1.2 %

Alphabet stock opened at $201.90 on Monday. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. The stock has a 50 day moving average of $187.95 and a two-hundred day moving average of $175.21. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current 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.