Wellington Shields Capital Management LLC Has $24.89 Million Stock Holdings in Alphabet Inc. $GOOG

Wellington Shields Capital Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 140,309 shares of the information services provider’s stock after selling 286 shares during the period. Alphabet accounts for 4.2% of Wellington Shields Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Wellington Shields Capital Management LLC’s holdings in Alphabet were worth $24,889,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GOOG. IFS Advisors LLC lifted its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley lifted its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC lifted its holdings in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC lifted its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet in the first quarter worth about $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $278.06 on Wednesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.86 and a beta of 1.00. The firm has a 50-day moving average of $247.49 and a two-hundred day moving average of $203.10.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the firm earned $2.12 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 190,896 shares of company stock valued at $45,092,175. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOG shares. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler upped their price target on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Pivotal Research upped their price target on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Company 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.