Magnolia Capital Advisors LLC Acquires 267 Shares of Alphabet Inc. (NASDAQ:GOOG)

Magnolia Capital Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,241 shares of the information services provider’s stock after buying an additional 267 shares during the period. Magnolia Capital Advisors LLC’s holdings in Alphabet were worth $1,414,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares during the period. JPMorgan Chase & Co. raised its stake in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares during the period. Northern Trust Corp raised its stake in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after acquiring an additional 1,275,060 shares during the period. Sanders Capital LLC raised its stake in Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after acquiring an additional 92,741 shares during the period. Finally, Jennison Associates LLC raised its stake in Alphabet by 2.0% during the 3rd quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock worth $2,613,557,000 after acquiring an additional 390,118 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus price target of $159.86.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 11.6 %

GOOG stock opened at $176.28 on Friday. The firm has a fifty day moving average price of $148.48 and a 200 day moving average price of $142.51. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.28. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $2.19 trillion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the firm posted $1.17 earnings per share. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current fiscal 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.