Canton Hathaway LLC Buys Shares of 1,180 Alphabet Inc (GOOG)

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Canton Hathaway LLC bought a new stake in shares of Alphabet Inc (NASDAQ:GOOG) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,180 shares of the information services provider’s stock, valued at approximately $1,408,000. Alphabet accounts for about 0.9% of Canton Hathaway LLC’s portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of the business. IMS Capital Management boosted its stake in shares of Alphabet by 2.9% in the 2nd quarter. IMS Capital Management now owns 1,465 shares of the information services provider’s stock worth $1,634,000 after buying an additional 41 shares during the last quarter. Trust Co. of Virginia VA boosted its stake in shares of Alphabet by 7.2% in the 2nd quarter. Trust Co. of Virginia VA now owns 614 shares of the information services provider’s stock worth $685,000 after buying an additional 41 shares during the last quarter. Intl Fcstone Inc. boosted its stake in shares of Alphabet by 13.8% in the 2nd quarter. Intl Fcstone Inc. now owns 347 shares of the information services provider’s stock worth $387,000 after buying an additional 42 shares during the last quarter. Security National Trust Co. boosted its stake in shares of Alphabet by 1.9% in the 2nd quarter. Security National Trust Co. now owns 2,229 shares of the information services provider’s stock worth $2,487,000 after buying an additional 42 shares during the last quarter. Finally, Providence First Trust Co boosted its stake in shares of Alphabet by 2.7% in the 2nd quarter. Providence First Trust Co now owns 1,581 shares of the information services provider’s stock worth $1,764,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 40.44% of the company’s stock.

Shares of Alphabet stock opened at $1,036.58 on Friday. Alphabet Inc has a one year low of $980.64 and a one year high of $1,273.89. The firm has a market capitalization of $731.24 billion, a P/E ratio of 23.65 and a beta of 1.15. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the Zacks’ consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion for the quarter.

A number of equities analysts have recently issued reports on GOOG shares. Macquarie restated a “buy” rating on shares of Alphabet in a research note on Wednesday, August 15th. BidaskClub downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Morningstar restated a “neutral” rating on shares of Alphabet in a research note on Friday, August 17th. Oppenheimer reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, August 17th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $1,301.81.

In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $1,160.42, for a total transaction of $11,604,200.00. Following the sale, the chief executive officer now directly owns 546 shares of the company’s stock, valued at $633,589.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 25 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $1,199.89, for a total value of $29,997.25. Following the sale, the director now directly owns 1,912 shares in the company, valued at $2,294,189.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,437 shares of company stock worth $98,403,047. Insiders own 13.11% of the company’s stock.

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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.

See Also: Intrinsic Value

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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