Cottage Street Advisors LLC Has $6.72 Million Position in Alphabet Inc. $GOOG

Cottage Street Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,875 shares of the information services provider’s stock after selling 378 shares during the quarter. Alphabet makes up about 3.5% of Cottage Street Advisors LLC’s portfolio, making the stock its 7th biggest holding. Cottage Street Advisors LLC’s holdings in Alphabet were worth $6,719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Smart Money Group LLC boosted its stake in shares of Alphabet by 24.6% during the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock worth $342,000 after acquiring an additional 432 shares during the period. Impax Asset Management Group plc boosted its stake in shares of Alphabet by 2.2% during the 1st quarter. Impax Asset Management Group plc now owns 33,291 shares of the information services provider’s stock worth $5,201,000 after acquiring an additional 725 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of Alphabet by 1.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 77,915 shares of the information services provider’s stock worth $12,173,000 after acquiring an additional 1,378 shares during the period. Finally, Truist Financial Corp boosted its stake in shares of Alphabet by 0.8% during the 1st quarter. Truist Financial Corp now owns 3,611,862 shares of the information services provider’s stock worth $564,281,000 after acquiring an additional 30,326 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Morgan Stanley lifted their target price on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. lifted their target price on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, UBS Group reiterated a “neutral” rating on shares of Alphabet in a research note on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Performance

NASDAQ:GOOG opened at $281.82 on Monday. The stock has a market cap of $3.41 trillion, a P/E ratio of 27.79, a PEG ratio of 1.86 and a beta of 1.00. The stock has a 50 day simple moving average of $244.59 and a 200 day simple moving average of $201.30. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 222,330 shares of company stock valued at $51,167,625 over the last 90 days. 12.99% of the stock is currently owned by insiders.

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.