Benin Management CORP Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

Benin Management CORP increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 29,709 shares of the information services provider’s stock after acquiring an additional 1,586 shares during the period. Alphabet comprises about 1.6% of Benin Management CORP’s portfolio, making the stock its 11th largest holding. Benin Management CORP’s holdings in Alphabet were worth $5,658,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. SkyView Investment Advisors LLC raised its position in shares of Alphabet by 11.4% in the 2nd quarter. SkyView Investment Advisors LLC now owns 16,281 shares of the information services provider’s stock worth $2,986,000 after acquiring an additional 1,660 shares in the last quarter. Copperwynd Financial LLC raised its holdings in Alphabet by 7.4% in the second quarter. Copperwynd Financial LLC now owns 7,200 shares of the information services provider’s stock worth $1,247,000 after purchasing an additional 499 shares in the last quarter. Magnolia Capital Advisors LLC lifted its position in Alphabet by 8.6% during the second quarter. Magnolia Capital Advisors LLC now owns 11,195 shares of the information services provider’s stock valued at $2,053,000 after buying an additional 884 shares during the period. Nemes Rush Group LLC boosted its holdings in shares of Alphabet by 2.3% during the 2nd quarter. Nemes Rush Group LLC now owns 12,999 shares of the information services provider’s stock valued at $2,384,000 after buying an additional 289 shares in the last quarter. Finally, Silver Lake Advisory LLC purchased a new stake in shares of Alphabet in the 2nd quarter worth about $2,153,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GOOG shares. Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $201.90 on Monday. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84. The business has a fifty day moving average of $187.95 and a 200 day moving average of $175.21.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the company posted $1.55 EPS. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet 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.