Patriot Wealth Management Inc. Purchases 408 Shares of Alphabet Inc Class C (GOOG)

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Patriot Wealth Management Inc. increased its position in shares of Alphabet Inc Class C (NASDAQ:GOOG) by 2.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 15,676 shares of the information services provider’s stock after buying an additional 408 shares during the quarter. Alphabet Inc Class C comprises about 2.4% of Patriot Wealth Management Inc.’s holdings, making the stock its 7th biggest position. Patriot Wealth Management Inc.’s holdings in Alphabet Inc Class C were worth $17,489,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Smart Portfolios LLC bought a new position in Alphabet Inc Class C during the first quarter valued at about $103,000. Braun Bostich & Associates Inc. bought a new position in Alphabet Inc Class C during the first quarter valued at about $107,000. Litman Gregory Asset Management LLC bought a new position in Alphabet Inc Class C during the first quarter valued at about $113,000. WealthShield LLC bought a new position in Alphabet Inc Class C during the fourth quarter valued at about $144,000. Finally, Earnest Partners LLC bought a new position in Alphabet Inc Class C during the fourth quarter valued at about $148,000. Institutional investors and hedge funds own 34.31% of the company’s stock.

In related news, SVP David C. Drummond sold 5,690 shares of Alphabet Inc Class C stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $1,136.05, for a total transaction of $6,464,124.50. Following the sale, the senior vice president now directly owns 39,911 shares of the company’s stock, valued at $45,340,891.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 80 shares of Alphabet Inc Class C stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $1,193.80, for a total value of $95,504.00. Following the sale, the chief accounting officer now directly owns 388 shares in the company, valued at $463,194.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,362 shares of company stock worth $105,376,354. 13.11% of the stock is owned by company insiders.

Several research firms have weighed in on GOOG. Oppenheimer restated a “buy” rating on shares of Alphabet Inc Class C in a report on Wednesday, July 25th. Cowen raised their target price on Alphabet Inc Class C from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a report on Friday, July 13th. Morgan Stanley restated a “buy” rating on shares of Alphabet Inc Class C in a report on Tuesday, July 24th. Barclays restated a “buy” rating on shares of Alphabet Inc Class C in a report on Monday, August 20th. Finally, UBS Group reiterated a “buy” rating on shares of Alphabet Inc Class C in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,245.96.

Alphabet Inc Class C stock opened at $1,164.83 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. The stock has a market capitalization of $825.73 billion, a PE ratio of 28.97 and a beta of 1.11. Alphabet Inc Class C has a 52 week low of $909.70 and a 52 week high of $1,273.89.

Alphabet Inc Class C (NASDAQ:GOOG) last released its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share for the quarter, topping analysts’ consensus estimates of $9.66 by $2.09. Alphabet Inc Class C had a return on equity of 18.24% and a net margin of 13.16%. The business had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. During the same period last year, the business earned $5.01 earnings per share. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year.

Alphabet Inc Class C 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 Inc Class C (NASDAQ:GOOG)

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