Alphabet Inc (NASDAQ:GOOG) Stake Raised by Progressive Investment Management Corp

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Progressive Investment Management Corp grew its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,682 shares of the information services provider’s stock after buying an additional 128 shares during the quarter. Alphabet makes up about 2.6% of Progressive Investment Management Corp’s investment portfolio, making the stock its 20th largest holding. Progressive Investment Management Corp’s holdings in Alphabet were worth $4,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Garner Asset Management Corp grew its position in Alphabet by 27.8% during the third quarter. Garner Asset Management Corp now owns 993 shares of the information services provider’s stock worth $1,185,000 after buying an additional 216 shares during the period. Rice Partnership LLC lifted its stake in shares of Alphabet by 21.7% during the second quarter. Rice Partnership LLC now owns 544 shares of the information services provider’s stock valued at $607,000 after buying an additional 97 shares during the period. Schmidt P J Investment Management Inc. increased its position in Alphabet by 1.5% during the third quarter. Schmidt P J Investment Management Inc. now owns 5,166 shares of the information services provider’s stock worth $6,165,000 after purchasing an additional 78 shares during the last quarter. C WorldWide Group Holding A S increased its position in Alphabet by 0.3% during the third quarter. C WorldWide Group Holding A S now owns 485,671 shares of the information services provider’s stock worth $579,633,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Watch Point Trust Co increased its position in Alphabet by 3.7% during the third quarter. Watch Point Trust Co now owns 2,216 shares of the information services provider’s stock worth $2,645,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 34.12% of the company’s stock.

In other Alphabet news, VP Amie Thuener O’toole sold 89 shares of Alphabet stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $1,112.66, for a total value of $99,026.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 40 shares of Alphabet stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $1,113.10, for a total transaction of $44,524.00. The disclosure for this sale can be found here. Insiders sold 79,495 shares of company stock valued at $83,512,036 over the last quarter. Corporate insiders own 13.11% of the company’s stock.

A number of equities research analysts recently weighed in on GOOG shares. BidaskClub raised shares of Alphabet from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Barclays restated a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. DZ Bank reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 18th. Nomura reissued a “buy” rating on shares of Alphabet in a research note on Monday, October 29th. Finally, Morningstar reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,327.66.

Shares of GOOG stock traded down $3.65 during trading on Friday, hitting $1,095.06. 1,072,020 shares of the company were exchanged, compared to its average volume of 1,528,919. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 3.92. The stock has a market cap of $762.03 billion, a P/E ratio of 23.05 and a beta of 1.06. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,273.89.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, topping the consensus estimate of $10.86 by $1.91. The business had revenue of $39.28 billion during the quarter, compared to analysts’ expectations of $38.91 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted $9.70 earnings per share.

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Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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